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TMI BlogFinance Bill, 2015 - Changes in Service Tax, Central Excise and Customs duty ratesX X X X Extracts X X X X X X X X Extracts X X X X ..... Central Excise and notifications No.28 to No.30/2015-Customs, all dated 30th April, 2015 have been issued to give effect to these announcements. Notifications No.12 and No.13/2015-Central Excise (N.T.), dated 30th April, 2015 has also been issued in this regard. As regards Service Tax, notification No.12/2015-Service Tax, dated 30.04.2015 has been issued. 2. The changes introduced through these notifications are summarised below. In addition, a clarification regarding applicability of customs duty exemption notifications has also been provided. Unless otherwise stated, all changes in rates of duty take effect from the midnight of 29th April / 30th April, 2015. CUSTOMS: 1) Basic Customs Duty on raw and refined / white s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ow 58% Fe content) [falling under tariff lines 2601 11 41 and 2601 11 42 ] has been reduced from 30% to 10%. There is no change in the export duty rate on iron ore other than iron ore fines (below 58% Fe content). Notification No.27/2011-Customs, dated 01.03.2011 as amended by notification No.30/2015-Customs, dated 30.04.2015 [new S.No.20A refers]. 7) Exemption from additional duty of customs levied under section 3 of the Customs Tariff Act (both CVD and SAD) in respect of certain entries of notification No.39/96-Customs, dated 23.07.1996 are being withdrawn. Exemption from Basic Customs Duty in respect of these entries, however, would continue. Paragraph 2 of the notification No.39/96-Customs, dated 23.07.1996 as amended by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on No.12/2012-Central Excise, dated 17.03.2012 as omitted by notification No.24/2015-Central Excise, dated 30.04.2015 refers. 3) The concessional excise duty (and hence, CVD) of 6% on Hard disk, CD ROM drive, DVD drive or writer, Combo drive, flash memory, microprocessors has been restricted only to actual users for manufacture of computer (PCs/desktops) falling under heading 8471 . S.No.255/2012-Central Excise, dated 17.03.2012 as amended by notification No.24/2015-Central Excise, dated 30.04.2015 refers. 4) Excise duty exemption presently available to Ordnance Factories is being withdrawn. S.No.1 and 6 of notification No.62/95-CE dated 16.03.1995 as omitted by notification No.23/2015-Central Excise, dated 30.04.2015 refe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Education Cess and Secondary Higher Education Cess on input services received by the manufacturer of final product on or after the 1st day of March, 2015. Notification No.12/2015-Central Excise (N.T.), dated 30.04.2015 refers. CLARIFICATION: The issue as to whether an importer can simultaneously avail the exemption benefits under two notifications, one for Basic Customs Duty and the other for CVD was examined in the Ministry in the matter of import of coal from Indonesia and vide Circular No.41/2013-Customs dated 21.10.2013 it was clarified that an importer while availing of BCD exemption on steam coal under notification No.46/2011-Customs, dated 01.06.2011 can simultaneously avail of concessional CVD at 2% under S.No.123 o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of contribution under Atal Pension Yojana (APY) have been exempted. [ Notification No.25/2012-Service Tax, dated 20.06.2012 as amended by notification No.12/2015-Service Tax, dated 30.04.2015 [item (p) of entry.26 and items (e) and (f) of entries 26A and 26B refer.] With warm regards, Yours sincerely, (Alok Shukla) Joint Secretary (TRU-I) To: All Principal Chief Commissioners, All Chief Commissioners / Directors General, Copy to: All Principal Commissioners, All Commissioners, Director DPPR / Logistics / Legal Affairs / Data Management. - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - ..... X X X X Extracts X X X X X X X X Extracts X X X X
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