Calcutta HC: Cannot Deny Electricity Solely on Ground of Not Furnishing Ownership  ||  Madras HC: Cannot Hold Protests at Whim and Fancies  ||  Bombay HC: March of Development in Mumbai Cannot Trample Heritage Structures  ||  P&H HC: Seriousness of Offence of Drug Trafficking Can’t Trample Constitutional Safeguards  ||  Bombay HC: Cannot Deny ‘Right to Life’ to Accused who is in Custody  ||  Ker HC: Action Must be Taken against Private Nursing Colleges Not Paying Teachers as per Regulations  ||  Kerala HC: Can Make IRCTC Responsible for Managing Waste in Railway Stations  ||  J&K HC: Magistrate Can Revoke Orders or Drop Proceedings if No Case is Made Out  ||  Kerala HC Directs Placing of Draft Guidelines for Dealing With Snake Bites in Schools  ||  J&K HC: Cannot Equate Irregular Appointments with Illegal Appointments    

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