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2nd April 2013, 11:28 AM
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Join Date: May 2012
Re: Central Excise Tax Rate

Central Exam Tax Rate was changed in 2012 and new rate is published in pdf file. I have that file and following are contents of that file:

A. Rate changes: 1. The rate of service tax is being restored to the statutory rate of 12% - same as goods-and Notification No. 8/2009-ST dated February 24, 2009 reducing the rate to 10% has been rescinded effective April 1, 2012.

2. Consequent changes have also been made in composition rates as follows:

i For life insurance: 3% for the first year premiums while retaining the rate @1.5% for the subsequent years(simultaneously restoring full Cenvat credit);

ii Money changing: raising the existing rates proportionately by 20%;

iii Distributor or selling agent of lotteries: Raising the specified amounts proportionately and suitably rounded off to Rs 7,000 and 11,000;

iv For works contracts from 4% to 4.8%.

3. The rate for Cenvat reversal for exempt services has been revised likewise from 5% to 6% in Rule 6(3) of Cenvat Credit Rules (CCR), 2004.

4. The dual tax structure for air transportation: partly specific, partly ad valorem - is being replaced with a uniform ad-valorem levy at standard rate with an abatement of 60% on all sectors and all classes.

5. All these changes will be effective April 2012.

For more detail you can free download attached pdf file. It is free for you.
Attached Files
File Type: pdf Central Excise Tax Rate Changes.pdf (1.44 MB, 82 views)


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