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Government constitutes a Sub-Committee under the aegis of the High Level Committee (HLC) on issues related to excise duty on different articles of jewellery imposed in Budget 2016-17; Committee to submit its Report within sixty days

Budget - Dated:- 22-3-2016 - In the Union Budget 2016-17, the Central Excise duty at the rate of 1% (without input tax credit) and 12.5% (with input tax credit) has been imposed on all articles of jewellery (except for silver jewellery, other than th .....

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nsist of: a. three representatives of the trade [to be decided by the Government]; b. one legal expert [to be decided by the Government]; c. officer concerned from the Ministry of Commerce & Industry [MoC&I] to be nominated by the MoC&I; .....

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ll be given an opportunity to submit representation before the Sub-Committee in writing and the all India associations to state their case in person. Terms of reference of the Sub-Committee will include the issues related to compliance procedure for .....

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ndations of the Sub-Committee are finalized, the following shall be adhered to: a) All payments of Central Excise duty will be based on first sale invoice value; b) The Central Excise authorities will not challenge the valuation given in the invoice .....

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idence of the jewelers; d) No arrest or criminal prosecution of any jeweler will be done; e) No search or seizure of stocks by any central excise official will be effected; f) Exporters will be allowed to export on self-declaration and submission of .....

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