Excise duty on liquiros
This query is : Resolved
09 March 2015
I need help :
Excise Duty on Liquiros
As Per Wch Act , Rate , Return Filling
Excise Duty on Liquiros
As Per Wch Act , Rate , Return Filling
RAMESH KUMAR VERMA
(Expert)
10 March 2015
According to Indian Budget 2015-16, the following Central Excise Duty changes have been declared under import of mineral waters and aerated waters.
Please find below the extract of government notification:
“1) All goods falling under heading 2202 [other than mineral waters and aerated waters which attract abatement of 45% and 40% respectively] are being notified under section 4A of the Central Excise Act for the purpose of assessment of Central Excise duty with reference to the Retail Sale Price with an abatement of 35%. Notification No.49/2008-Central Excise (N.T.), dated 21.12.2008 notification No.49 of 2008-Central Excise dated .pdf as amended by notification No.3/2015-Central Excise (N.T.) dated 1st March, 2015Notification no. 09 of 2015-Central Excise, dt. 01-03-2015.pdf
[newly inserted S.No.25A and omitted S.No.121, 122, 123 and 124] refer. The Third Schedule to the Central Excise Act, 1944 is also being amended so as to include therein all goods falling under Chapter heading 2202. Clause 103 of the Finance Bill, 2015 refers. By virtue of declaration under the Provisional Collection of Taxes Act, 1931, these changes will come into force with immediate effect.
2) Excise duty on “waters, including mineral waters and aerated waters, containing added sugar or other sweetening matter or flavoured” falling under Chapter sub-heading 2202 10 is being increased from 12% to 18%. Clause 104 of the Finance Bill refers. By virtue of declaration under the Provisional Collection of Taxes Act, 1931, this increase will come into force with immediate effect. Simultaneously, the entry in the Seventh Schedule to the Finance Act, 2005 relating to levy of additional duty of excise @ 5% on these goods is being omitted. Clause 184 of the Finance Bill, 2015 refers. Notification No.6/2005-Central Excise, dated 1st March, 2005 notification no.06 of 2015-Central Excise, dt. 01-03-2015.pdf as amended by notification No.9/2015-Central Excise dated 1st March, 2015 Notification no. 09 of 2015-Central Excise, dt. 01-03-2015.pdf [newS.No.1A] prescribes Nil rate of additional duty of excise on such goods till the enactment of the Finance Bill, 2015.”
Please find below the extract of government notification:
“1) All goods falling under heading 2202 [other than mineral waters and aerated waters which attract abatement of 45% and 40% respectively] are being notified under section 4A of the Central Excise Act for the purpose of assessment of Central Excise duty with reference to the Retail Sale Price with an abatement of 35%. Notification No.49/2008-Central Excise (N.T.), dated 21.12.2008 notification No.49 of 2008-Central Excise dated .pdf as amended by notification No.3/2015-Central Excise (N.T.) dated 1st March, 2015Notification no. 09 of 2015-Central Excise, dt. 01-03-2015.pdf
[newly inserted S.No.25A and omitted S.No.121, 122, 123 and 124] refer. The Third Schedule to the Central Excise Act, 1944 is also being amended so as to include therein all goods falling under Chapter heading 2202. Clause 103 of the Finance Bill, 2015 refers. By virtue of declaration under the Provisional Collection of Taxes Act, 1931, these changes will come into force with immediate effect.
2) Excise duty on “waters, including mineral waters and aerated waters, containing added sugar or other sweetening matter or flavoured” falling under Chapter sub-heading 2202 10 is being increased from 12% to 18%. Clause 104 of the Finance Bill refers. By virtue of declaration under the Provisional Collection of Taxes Act, 1931, this increase will come into force with immediate effect. Simultaneously, the entry in the Seventh Schedule to the Finance Act, 2005 relating to levy of additional duty of excise @ 5% on these goods is being omitted. Clause 184 of the Finance Bill, 2015 refers. Notification No.6/2005-Central Excise, dated 1st March, 2005 notification no.06 of 2015-Central Excise, dt. 01-03-2015.pdf as amended by notification No.9/2015-Central Excise dated 1st March, 2015 Notification no. 09 of 2015-Central Excise, dt. 01-03-2015.pdf [newS.No.1A] prescribes Nil rate of additional duty of excise on such goods till the enactment of the Finance Bill, 2015.”
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