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Q. > Please Help: exise duty
is 2% excise duty increment will affect from 17/03/2012
2 Answers
answered Mar 17, 2012 by PRIYANKA , GREATER NOIDA
In the absence of any clarification or notification specifically specifying the date, these new rates would be applicable from 1st april 2012.
answered Mar 17, 2012 by Ashish Karundia , New Delhi
Dear Subheet,
The increased rate of 2% i.e. effectively 12% is applicable from 16th March, 2012 midnight.[Ref: Notification No. 18/2012-CE dated 17th March, 2012]
Hope the above suffice.
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CA Raginee Goyal
18-Apr-2012 , 02:32:45 amAs per provisional collection of taxes act 1971 the imposition or increase of duties of excise and customs has immediate effect as per declaration inserted in Finance bill. for service tax act it will apply from the date when act will be made..... so according to the law increase in excise applies from midnight of 16.3.12