Calcutta HC: Award May Be Set Aside if Tribunal Rewrites Contract or Ignores Key Clauses || Delhi HC Suspends Kuldeep Singh Sengar’s Life Term, Holding Section 5(C) of POCSO Not Made Out || Calcutta High Court: Arbitration Clause in an Expired Lease Cannot be Invoked For a Fresh Lease || Delhi High Court: 120-Day Timeline under Section 132B Of Income Tax Act is Not Mandatory || NCLAT Reaffirms That Borrower's Debt Acknowledgment Also Extends Limitation Period for Guarantors || NCLAT: Oppression & Mismanagement Petition Cannot Be Filed Without Company Membership on Filing Date || Supreme Court Quashes Rajasthan Village Renaming, Says Government Must Follow its Own Policy || NCLAT: NCLT Can Order Forensic Audit on its Own, No Separate Application Required || NCLAT Reiterates That IBC Cannot be Invoked as a Recovery Tool for Contractual Disputes || Delhi HC: DRI or Central Revenues Control Lab Presence in Delhi Alone Does Not Confer Jurisdiction

Clarifications on levy imposed on jewellery - (04 Mar 2016)

MANU/PIBU/0299/2016

Excise

The government issued clarifications on the excise duty of one per cent (without input tax credit) and 12.5 per cent (with input tax credit) levied on jewellery manufacture. Compliance with the duty can be completed online, with no interaction with Department officers, and central excise officers have been directed to not visit premises of jewellery manufacturers. Artisans or goldsmiths manufacturing jewellery on job-work are not required to register with the Department or file returns. With the limits set, only jewelers with a turnover greater than Rs. 12 crore will be liable to pay excise duty.

Tags : CENTRAL EXCISE JEWELLERY CLARIFICATION

Share :