SC: Menstrual Health is a Fundamental Right under Article 21; Orders Free Sanitary Pads in Schools  ||  Supreme Court: Industrial Court is the Proper Forum to Decide Issues Relating to Contract Labour  ||  Supreme Court: Only Civil Court of Original Jurisdiction Can Extend Arbitral Tribunal’s Mandate  ||  SC: Demolition of Private Property Must Rest on Clear Statutory Grounds and Due Consideration  ||  SC: After Complaint Was Withdrawn, BCI Disciplinary Committee Could Not Penalise Advocate  ||  MP HC: Decree Holder Cannot Defeat Compromise or Initiate Execution by Refusing Debtor’s Cheque  ||  MP HC: Spouse’s Income Cannot Be Clubbed With Public Servant’s for Disproportionate Assets Case  ||  Ker HC: Bar Association is Not Employer & Cannot Form Internal Complaints Committee under POSH Act  ||  SC: Ex-Contract Workers Must Be Preferred When Employers Replace Contract Labour With Regular Staff  ||  SC: Waqf Tribunals Cannot Hear Claims over Properties Not Listed or Registered under Waqf Act    

Compliance relaxations for excise levy on jewellery industry accepted- (Ministry of Finance ) (13 Jul 2016)

MANU/PIBU/0544/2016

Excise

The Central government accepted the recommendations of a Sub-Committee formed to interact with trade and industry on issues arising out of the recent levy of excise duty on jewellery.

The Committee had recommended on 23 June 2016 several policy relaxations to lessen the administrative and fiscal blow of the levy on jewellery traders and manufacturers. These included no requirement to submit any ground plan of the premises for taking excise registration; no excise duty payable on the sale of traded goods; and when a retail customer brings jewellery to a jeweller which is converted into new jewellery by the jeweller or a job worker of such jeweller, excise duty will be payable only on value addition, including cost of additional materials and labour charges charged.

The government also raised the SSI Eligibility limit from Rs. 12 crore to Rs. 15 crore; and SSI Exemption limit from Rs. 6 crore to Rs. 10 crore in one financial year.

Tags : EXCISE   JEWELLERY   SSI   VALUATION  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved