Rate of excise duty

Dear Sathya

Can you share with me to check out such things ?

Regards

HS Negi

sorry but it;s totaly wrong.

currently we are paying 4% on transaction value but i have heared that it's increase from 4% to 5% on MRP instead of transaction Value.

Pls.anyone confirm.

Please refer to serial No.37 of Notification No.01/2011-CE dated 01.03.2011 and Serial No.19 of Notification No.2/2011-CE dated 01.03.2011. If the goods manufactured by you fall under the category mentioned in serial numbers mentionned, excise duty is payable @ 5% (with Cenvat Credit) or @ 1% (without Cenvat Credit on inputs & input services).

As rate of duty is ad velorem, it seems it has to be paid on transaction value.

Link to the Notifications is given below:

https://www.cbec.gov.in/excise/cx-act/notfns-2k11/cx-tarr2k11/ce01-2k11.pdf

https://www.cbec.gov.in/excise/cx-act/notfns-2k11/cx-tarr2k11/ce02-2k11.pdf

As per above notification previously these 130 products are exempted from central excse duty.

but we are paying 4% excise duty on our product since 2008 then how our product comes under these notification.

Pls.confirm.