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Clarifications on levy imposed on jewellery

Budget - Dated:- 4-3-2016 - In this year s Budget, a nominal excise duty of 1% [without input tax credit] and 12.5% [with input tax credit] has been imposed on articles of jewellery. Even for this nominal 1% excise duty, manufacturers are allowed to .....

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ce with provision for on line application for registration, payment of excise duty and filing of returns, with zero interface with the departmental officers. The central excise officers have been directed not to visit the premises of Jewellery manufa .....

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l Excise, pay duty and file returns, as all these obligations will be on the principal manufacturers [Rule 12AA of the Central Excise Rules, 2002]. There is a substantially high Small Scale Industries excise duty exemption limit of ₹ 6 crore in .....

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ncial year was more than ₹ 12 crore, he will be liable to pay the excise duty. Jewelers having turnover below ₹ 12 crore during preceding financial year will be eligible for exemption unto ₹ 6 crore during next financial year. Such .....

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, based on the books of accounts for 2014-15 and 2015-16 respectively, would suffice. Further, facility of Optional Centralized Registration has also been provided. Thus, there is no need for a jewellery manufacturer to take separate registrations fo .....

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