Supreme Court: Foreign Companies’ Head Office Expenses in India are Capped under Section 44C  ||  SC Directs Trial Courts to Systematically Catalogue Witnesses and Evidence in Criminal Judgments  ||  SC Calls For Sensitising Future Generations on Equality in Marriage to Combat Dowry Practices  ||  SC: Separate Suits Against Confirmed Auction Sales are Barred; Remedy Available under Sec 47  ||  NCLT Mumbai: Oppression Claims Against Majority Shareholders Do not Justify Winding up a Company  ||  J&K&L HC Rules it Illegal and Inequitable to Deny Regularisation to a Daily Wager After 34 Years  ||  J&K&L High Court: Revisional Powers Must Be Used Within Reasonable Time; Merits Don’t Justify Delay  ||  Supreme Court: Compassionate Appointees Cannot Later Claim Entitlement to a Higher Post  ||  NCLAT New Delhi: Insolvency Pleas Cannot Be Admitted When Information Utility Records Show a Dispute  ||  NCLAT: Issuing Cheques For Another Entity’s Liabilities Does not Constitute Operational Debt    

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