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Government clarifies to the Jewellery Industry about the issues relating to imposition of Excise Duty on articles of Jewellery with simplified procedures.

News and Press Release - Dated:- 19-3-2016 - Press Information Bureau Government of India Ministry of Finance 18-March-2016 19:56 IST In the General Budget for 2016-17, a nominal excise duty of 1% [without input tax credit] and 12.5% [with input tax credit] has been imposed on articles of jewellery with simplified procedures. Salient features of the simplified procedures for this levy have been explained vide press release issued by the Government on 4th of March, 2016. In this connection, on 17 .....

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isits of Inspectors to the Jewellers thereby bringing back the days of Inspector Raj. c) Who has to take excise registration and file return? d) What documents are to be maintained for excise purposes? The representatives of industry also requested for increase in exemption limit of ₹ 6 crore in a year to ₹ 10 crore, and urged for an early consideration of the same. Regarding concerns relating to procedures and compliance to the levy, the representatives of industry were informed tha .....

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