clarification about 2%ed.cess & 1% s & h Cess, Central Excise

[MEHUL ASHAR]

Respected Sir,

As regarding above subject, my query is that one of my clients is taking the benefit of noti.no.08/2003 which is about 1.5 crore exemption limit and as u know that FM has announced budget-2015 on 28-02-15 and he has removed 2% and 1% cess on excisable goods but my client, as he has to pay the excise duty on the closing stock of finished goods and raw material on 31-03-2015 then do I have to calculate 2% ed.cess and 1% s and h cess on closing stock or not.Please reply.

THANK U

Posts / Replies

[MUKUND THAKKAR]

please advise your client to pay only 12.5% need not to pay 2% and 1%. because closing stock is applicable only new rate.