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Taxability of stock on February 29, 2016 - Excise duty imposition on articles of jewellery in the Budget 2016-17 - regarding

Central Excise - 1045/33/2016 - CX - Dated:- 26-7-2016 - Circular No. 1045/33/2016 - 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 Ch .....

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is 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 to tha .....

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tee has given its report on 23.06.2016, which has been accepted by the Government. 2. The Sub-Committee in its report has examined in detail excise duty liability on stock on 29th February, 2016 and has given its recommendations on the issue. Accordi .....

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emises (including branches) of the principal manufacturer, or (b) sent on approval to potential customers, will not be liable to excise duty. Furthermore, no stock declaration is required to be filed by a jeweller for this purpose with the jurisdicti .....

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