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In this year’s budget 2005-06, an excise duty of 2% has been imposed on branded articles of jewellery of heading 7113 of the Central Excise Tariff. The duty is leviable only if the brand name or the trade name, as defined, is indelibly affixed or embossed on the article of jewellery itself.
Only the Clearing Corporation/House of the Stock Exchanges shall be permitted to act as Approved Intermediaries (AIs) under the Securities Lending Scheme (SLS) to borrow and lend securities to meet the settlement shortages.
I am directed to invite your attention to para (xi) of the Circular No. 54/2004-Cus dated 13th October, 2004 regarding other provisions of the FTP relating to EOU and Gem and Jewellery Schemes. It was informed in that circular that paras 6.39.1 to 6.39.13 of the HOP relating to Fast Track clearances for EOU’s, are under review and its implementation may be deferred till a final view is communicated by this Ministry.
