Cal. HC: WB Government Directed to Finalise Minimum Wage of Tea Plantation Workers Within Six Weeks  ||  Delhi HC: Woman Cannot be Held Liable for Her Lover Committing Suicide Due to Love Failure  ||  All. HC: Medical Report Determining Age of Victim in POCSO Cases to be Submitted to Court Promptly  ||  Concerns About Rise in Low-Quality Law Colleges Raised by Bar Council of India  ||  Appointment of Technical Assistants as Assistant Engineers in Tamil Nadu PWD Upheld by Supreme Court  ||  Committee to Examine Issues Relating to Queer Community Constituted by Central Government  ||  Karnataka High Court: Accused can’t be Morally Convicted by Trial Court in Absence of Legal Proof  ||  Supreme Court in Plea for 100% EVM-VVPAT Verification: Human Interference to Create Problems  ||  Bom HC: Person Cannot be Deprived of Right to Sleep by Recording Statements at Unearthly Hours  ||  Supreme Court: Enable E-Filing & Virtual Appearance Facilities At UP District Courts    

Branded readymade garments become more expensive- (Ministry of Finance ) (14 Jun 2016)

MANU/EXCR/0020/2016

Excise

Affixing a brand name on or relabelling a readymade garment or article with a retail sale price of Rs. 1000 will amount to manufacture and render the item to excise duty, the Ministry of Finance clarified.

The Central Board of Excise and Customs had received representations from trade raising concerns whether excise duty would be chargeable on readymade garments or made up articles of textiles which are sold by a retail store which only affixes the retail sale price.

The 2016-2017 Budget levied excise duty of readymade garments and articles bearing a brand name, or sold under a brand, exceeding Rs. 1000 in sale price. The Finance Bill 2016 had recommended a duty of two per cent (or 12.5 per cent with CENVAT Credit) be imposed.

Relevant : Rates of duty prescribed in Finance Bill 2016

Tags : EXCISE   READYMADE   GARMENTS   MANUFACTURE  

Share :        

Disclaimer | Copyright 2024 - All Rights Reserved