Chhattisgarh HC: Father Must Provide Maintenance and Marriage Expenses to Unmarried Adult Daughter  ||  Delhi HC Rules That ‘Hermès’ and the 3D Shape of its ‘Birkin’ Bag are Well-Known Trademarks in India  ||  Kerala HC: Arrest is Illegal if Accused isn’t Produced in 24 Hours and Rearrest From Prison is Barred  ||  Supreme Court: Treating Every Sour Relationship as Rape Undermines the Seriousness of the Offence  ||  Supreme Court: Section 7 IBC Application Cannot be Rejected for Curable Defects in Affidavit  ||  NCLT Kochi: Sec 7 Insolvency Cannot be Filed Against Guarantor Without First Enforcing the Guarantee  ||  Patna High Court: Mere Two-And-A-Half-Year Incarceration is Not Sufficient for Bail under UAPA  ||  Bombay HC: Insolvency Cannot be Used to Evade a Family Court’s Maintenance Order  ||  Kerala HC: Forklifts and Factory Cranes Are Motor Vehicles and Must be Registered under MV Act  ||  Guj HC: Edible Crude Palm Kernel Oil Qualifies for Duty Exemption; End-Use Condition not Applicable    

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 2025 - All Rights Reserved