Madras HC: Police Superintendent not Liable For IO’s Delay In Filing Chargesheet or Closure Report || Supreme Court: Provident Fund Dues Have Priority over a Bank’s Claim under the SARFAESI Act || SC Holds Landowners Who Accept Compensation Settlements Cannot Later Seek Statutory Benefits || Supreme Court: Endless Investigations and Long Delays in Chargesheets Can Justify Quashing || Delhi HC: Arbitrator Controls Evidence and Appellate Courts Cannot Reassess Facts || Delhi HC: ED Can Search Anyone Holding Crime Proceeds, not Just Those Named in Complaint || Delhi HC: ED Can Search Anyone Holding Crime Proceeds, not Just Those Named in Complaint || Delhi HC: Economic Offender Cannot Seek Travel Abroad For Medical Treatment When Available In India || SC: Governors and President Have No Fixed Timeline To Assent To Bills; “Deemed Assent” is Invalid || SC: Assigning a Decree For Specific Performance of a Sale Agreement Does Not Require Registration

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 :