The mega exemption Notification No. 12/2012 CE dated 17 March, 2012 has been amended. The important changes are:
- Excise duty on manufacture of gold bars and silver dore bars has been reduced from 9.5% to 9.35%.
- Exemption from excise duty on manufacture of Populated Printed Circuit Boards(PPCBs) as parts/components of either lithium ion batteries, broadband modems, routers, Digital Video Recorder/ Network Video Recorder, CCTV cameras/ IP Cameras has been removed.
- A new entry has been inserted providing, inter alia, a concessional excise duty of 4 % for manufacture of PPCBs for all the products noted above. Further, excise duty on inputs required for manufacture of such PPCBs is now 2% subject to conditions.
- Exemption from excise duty on manufacture of speakers for mobile phones and their inputs has been removed.
- Exemption from excise duty on manufacture of parts, testing equipment and the like required for MRO operations has been extended to from not only those required for the aircraft but has also its components or parts including the engine.
- Exemption on excise duty on RBD Palm Stearin, Methanol and Sodium Methoxide for the manufacture of bio-diesel (alkyl ester of long chain fatty acids obtained from vegetable oils, commonly known as biodiesels) on actual user basis for a period upto and inclusive of 31March, 2017
[Ref: Notification No 22/2016- CE dated 5 May, 2016 and Notification No 23/2016- CE dated 17 May, 2016]
Note by Khaitan & Co, Advocates since 1911. For more information contact editors@khaitanco.com