When the enhance rate of Excise Duty 12% is applicable? Immediate or from midnight of 16-17/03/2012
Rohit Somani (Chief Account Officer) (35 Points)
16 March 2012When the enhance rate of Excise Duty 12% is applicable? Immediate or from midnight of 16-17/03/2012
Abhishek
(Senior Audit Manager)
(29 Points)
Replied 16 March 2012
It is applicable From midnight......
Ram Avtar Singh
(Nagari Sultanpur U.P.Delhi)
(14477 Points)
Replied 16 March 2012
its applicable after budget. immediate effect.
CA Bikash Ranjan Das ACA, CMA
(Chartered Accountant)
(53 Points)
Replied 16 March 2012
The excise duty has been hiked to 12%. What is the effect on the electronics goods like laptops..etc?Is there any possibility of price hike?
AKASH SINGH
(CA ,CS, ICWAI, (FINAL))
(35 Points)
Replied 16 March 2012
As per Sec 3 of Central excise tariff Act 198
CG may by notification in official gazzete, direct amendment of the Rates prevailing.
such notification shall be laid before each houses of parliament for its approval ...and it would come into existence afterwards...
Conclusion: Amended rates are being into existence after its approval....
Price of laptops and electronic items like TV , Fridge, Washing Machine etc are hiked...However LED and LCD prices are being lowred..
deepak
(Chartered Accountant Company Secretary)
(94 Points)
Replied 17 March 2012
@ all , Dont just give answers , also show og give link to support your answers
Thanks..
Mihir Doshi
(B.Com, CA, CS, LLB)
(2187 Points)
Replied 17 March 2012
Dear,
Excise rate wont be applicable from midnight but will be in force from 1st April 2012. You should also check notification 2/2012 which has nullified the effect of notification 8/2009.
Hope answer is clear.
Thanks
Mihir doshi
RAMESH KUMAR VERMA
( CS PURSUING )
(43848 Points)
Replied 17 March 2012
i guess that Ministry issue the Notification about the fact, will applicable from 01.04.2012
regards,
Sandeep Tiwari
(Student)
(21 Points)
Replied 17 March 2012
Please provide circular/notification in support to your reply...
Mahantesh
(Manager Accounts)
(21 Points)
Replied 17 March 2012
Excise duty @ 12% is applicable from 17.03.2012
Amey Diwanji
(Manager - Finance)
(29 Points)
Replied 20 March 2012
What is the impact of budget to pharma industry?
Rup Kumar
(finance manager)
(288 Points)
Replied 21 March 2012
The hike rate of 12% will comes into effect after it is passed in both the House of Parliament, and applicable on or after 01-04-2012.
Thanks..
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
