Query on edu. cess & sec. higher edu cess
This query is : Resolved
08 August 2015
Dear Professional,
I have closing balances Edu. cess & Sec. Higher Edu. Cess in both Service Tax & Excise as on 31/05/2015.
w.e.f. 01/06/2015 Service Tax Rate is changed to 14% & no cesses & Excise Rate is 12.5% & no cesses.
Now my query is.
What is the treatment of these balances. Can I transfer these balances to Basic Service Tax - 14% / Basic Excise Duty - 12.5%.
Thanks in Advance.
Jagadish
I have closing balances Edu. cess & Sec. Higher Edu. Cess in both Service Tax & Excise as on 31/05/2015.
w.e.f. 01/06/2015 Service Tax Rate is changed to 14% & no cesses & Excise Rate is 12.5% & no cesses.
Now my query is.
What is the treatment of these balances. Can I transfer these balances to Basic Service Tax - 14% / Basic Excise Duty - 12.5%.
Thanks in Advance.
Jagadish
09 August 2015
On or after 1.3.2015 received of inputs and input services under the head of edu. cess and hs cess you can utilised for payment of basic excise duty.
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