Education Cess & Secondary and Heigher Education cess, Central Excise

[SNEHAL SHAH]

R/sir,

We are the Manufacturing of pharma product and as per Central Excise duty structure change in budget 2015 from 12.36 to 12.50 % , In our Cenvat Credit Account ( A + C ) balance as under :

1) 2% -- 400000/-

2)1% -- 200000/-

How we can utilize these balance - Either By Refund or any other procedure ..

Please guide to us .

Thanks and regards,

SNEHAL SHAH

Posts / Replies

[MUKUND THAKKAR]

There is no notification for either lapsing of the credit or for refund of the accumulated credit on account of the Education / SHE Cess.
However, the credit can be continued to held in the books of accounts and can be used for payment of Education / SHE Cess on taxable services provided, if any, if permitted under the CENVAT Credit Rules.
 

[MARIAPPAN GOVINDARAJAN]

We may hope that notification will come in this regard. It is better to represent to the board by the stakeholders in this regard.