Feedback   New User   Login      
Tax Management India. Com TMI - Tax Management India. Com
Acts / Rules Notifications Circulars Tariff/ ITC HSN Forms Case Laws Manuals Short Notes Articles SMS News Highlights
        Home        
Extracts
Home List
← Previous Next →

Big change-small impact on “Sacks and Bags”

Central Excise - By: - Pradeep Jain - Dated:- 3-3-2015 Last Replied Date:- 4-3-2015 - Recently, Our Finance Minister, Arun Jaitley has increased the rate of excise duty from 12.36% (Including Education Cess and SHE Cess) to 12.5% (without any Educati .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ter sub-heading 3923. The Fifth Schedule of the Finance Bill, 2015 in clause (b) for entry in column (4) specifies the rate of excise duty for tariff items 39232100, 39232910 and 39232990 as 18% . However, if the new serial numbers 148B, 148C and 148 .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

Sl.No. Tariff Heading Description of product Rate of duty 148B 3923 21 00 Sacks and bags, other than for industrial use 15% 148C 3923 21 0 .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ed from 12% to 15% on Sacks and bags falling under 39232100 other than for industrial use. Alternatively, we can say that sale of sacks and bags to Industrial use, in such case excise duty attracts at the rate 12.5% and not 15%. Furthermore, the duty .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

er 3923 pertaining to Sacks and Bags is as follows:- Heading Rate of excise duty 39232100 other than industrial use 15% 39232100 for industrial use 12.5% .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

cks and bags will be leviable to excise duty at the rate of 12.5%. In the opinion of authors, the practice of the government to resort to such a complicate procedure to specify the rate of excise duty for sacks and bags is not understandable. When th .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

gs and sacks are chargeable general rate of 12.5%. The only exceptional rate applicable to 39232100 is 15% if have other than industrial use. Well, the tactics of government are known to them best, but this amendments is surely going to keep the manu .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

Discussion Forum
what is new what is new
 


Share:            

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version