JEWELLERY / nominated agencies

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..... JEWELLERY / nominated agencies
Query (Issue) Started By: - arun aggarwal Dated:- 22-10-2016 Last Reply Date:- 22-10-2016 Central Excise
Got 2 Replies
Central Excise
Sir If I buy goldbars from nominated agencies under para 4.34 of FTP 2015-20 which is duty free for exports for jewellery as advance procurement Further there is no CVD on Gold bars as exempted and after making jeweller .....

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..... y can I export the same after charging excise duty of 12.5% and claim rebate under rule 18,( as I am having cenvat credit unutilized with me)? 2) Is there any condition that if I dont take any cenvat I have to charge ony 1% on jewellery? Arun Reply By Rajagopalan Ranganathan: The Reply: Sir, 1% duty is applicable "if the said excisable goods are manufactured from inputs or capital goods .....

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..... on which appropriate duty of excise leviable under the First Schedule to the Excise Tariff Act or additional duty of customs under section 3 of the Customs Tariff Act, 1975 (51 of 1975) has been paid and no credit of such excise duty or additional duty of customs on inputs or capital goods has been taken by the manufacturer of such goods (and not the buyer of such goods) under rule 3 or rule 13 of .....

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..... the CENVAT Credit Rules, 2004. 192[Explanation.- For the purposes of this condition, appropriate duty or appropriate additional duty includes nil duty or concessional duty, whether or not read with any relevant exemption notification for the time being in force. If the imported gold bars are exempted from payment of CVD then the manufacturer cannot avail any credit. Under rule 18 of Central Exc .....

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..... ise rules, 2002 whatever ever duty paid on the manufactured goods whether at concessional rate or at full rate, the same is available as rebate. Regarding query No. 2 the above explanation will clear your doubts. Reply By arun aggarwal: The Reply: Thanks sir !!
Discussion Forum - Knowledge Sharing .....

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