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Guidelines for Excise Audit of Manufacturers / Principal Manufacturers of articles of jewellery or parts of articles of jewellery

Central Excise - 1041/29/2016-CX - Dated:- 26-7-2016 - Circular No. 1041/29/2016-CX F. No. 354/25/2016 - TRU (Pt.-I) Government of India Ministry of Finance (Department of Revenue) Tax Research Unit New Delhi, the 26th July, 2016 To, Principal Chief .....

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ng. In this year s Budget, central excise duty of 1% without input and capital goods tax credit or 12.5% with credit was imposed on articles of jewellery falling under heading 7113 of the First Schedule to the Central Excise Tariff 1985. Subsequent t .....

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ommittee has given its report on 23.06.2016, which has been accepted by the Government. 2. In the context of Excise Audit of manufacturers/principal manufacturers of articles of jewellery or parts of articles of jewellery or both, falling under headi .....

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in any other circular/instructions, the following guidelines for conduct of excise audit of manufacturers/principal manufacturers of articles of jewellery or parts of articles of jewellery, falling under heading 7113 may be followed scrumptiously,- .....

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Manufacturers/principal manufacturers of articles of jewellery paying duty below ₹ 50 lakh [cash plus credit], the proportion of units to be audited every year shall not exceed 5 per cent of total number of registered manufacturers/principal ma .....

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t) is more than ₹ 50 lakh and less than ₹ 1 crore may be audited once in every five years; ii. Manufacturers/principal manufacturers of articles of jewellery whose duty payment (cash plus credit) is more than ₹ 1 crore and less than .....

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rincipal manufacturers of articles of jewellery will be desk audit that is audit done in the office of jurisdictional central excise audit commissionerate. Moreover, such audit will under no circumstances involve any physical verification of stocks i .....

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