Hi Rafi,
No, It's wrong.
Excise Duty percentage will differ based on the Manufacture Product.
Below is the Example:
BED (Basic Excise Duty): 12 %
ECS on BED (Education Cess on BED): 2%
SECS on BED (Secondary Eduction Cess on BED): 1%
In this case Excise tax is : 12.24%, In addition to Excise we also need to assign the percentage for 4% for CST.
Regards
Srinu
