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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 Education Cess and SHE Cess) for most of the products. In addition to this, amendments have also been made in the exemption notification no. 12/2012-CE dated 17.03.2012. This article is an attempt to analyse the amendment in rate of excise duty made in chap .....

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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 00 All goods, other than goods mentioned at Sl. No. 148B above 12.5% - 148D 3923 29 All goods 12.5% From the above table we find that rate of excise duty has been increas .....

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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% 39232910 12.5% 39232990 12.5% It is further submitted that the net result is that the sacks and bags for other than industrial use will be leviable to excise duty at the rate of 15% whereas all other sa .....

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