Rule 3(7)(b) of the CCR,2004 has been amended so as to allow utilization of credit of Education Cess and Secondary Education Cess for payment of basic excise duty in the following situations:
- Education Cess and Secondary & Higher Education Cess on inputs or capital goods received in the factory of manufacture of final product on or after the 1st day of March,2015;
- Balance 50% Education Cess and Secondary and Higher Education Cess on Capital Goods received in the factory of manufacture of final product in the financial year 2014-15; and
- Education Cess and Secondary & Higher Education Cess on input services received by the manufacture of final product on or after 1st day of March,2015;
(Notification No.12/2015-Central Excise (N.T.) dated 30-04-2015 refers)