It is applicable From midnight......

its applicable after budget. immediate effect.

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?

MIDNIGHT

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..

@ all , Dont just give answers , also show og give link to support your answers

Thanks..

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

i guess that  Ministry issue the Notification about the fact, will applicable from 01.04.2012

regards,

Please provide circular/notification in support to your reply...

Excise duty @ 12% is applicable from 17.03.2012

It will be applicable from April 01, 2012

What is the impact of budget to pharma industry?

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..