"26 July 2016" Archive

Excise on jewellery: Summary of Recent Notifications & Circulars

D.O. F. No. 354/25/2016–TRU (Pt.-I) (26/07/2016)

a) Annex I - contains a brief summary of the amendments made vide various notifications to the existing Tariff and Non-Tariff notifications and issuances of new rules namely the Articles of Jewellery (Collection of Duty) Rules, 2016. b) Annex II - contains a brief summary of clarifications and instructions issued by way of circulars....

Read More

Relief in Average Export Obligation in terms of Para 5.19 of HBPs of FTP 2015-20

Policy Circular No. 01/2015-20 (26/07/2016)

Para 5.19 of the Hand Book of Procedures of FTP 2015-20 permits re-fixation of Annual Average Export Obligation, in case the export in any sector/ product group decline by more than 5%. This implies that the sector/product group that witnessed such decline in 2015-16 as compared to 2014-15, would be entitled for such relief....

Read More

Excise on jewellery: Taxability of stock on February 29, 2016

Circular No. 1045/33/2016-CX (26/07/2016)

i. All jewellery manufactured and removed, on or before February 29, 2016, from the premises of the job workers or any other premises where such articles of jewellery were manufactured, and (a) lying at different premises (including branches) of the principal manufacturer, or...

Read More

Excise on jewellery: Guidelines for issue of summons, visits, search, seizure, arrest & prosecution

Circular No. 1044/32/2016-CX (26/07/2016)

i. No transit checks shall be carried out by the excise officials for checking movement of semi-finished or finished articles of jewellery. ii. Visits, search of the premises of a manufacturer or principal manufacturer of articles of jewellery, issue of summons, seizure, arrest and prosecution may be initiated only when there is a clear r...

Read More

Reg. Exemption from export duty to Organic sugar

Notification No. 43/2016-Customs (26/07/2016)

Seeks to further amend notification No. 27/2011-Customs, dated 01.03.2011 so as to provide exemption from export duty to Organic sugar up to 10,000 MT in a year beginning with October and ending with September subject to specified conditions. The exemption for the period ending with 30th September, 2016 shall be restricted to 2500 MT....

Read More

General procedures regarding excise duty on jewellery& its parts

Circular No. 1043/31/2016-CX (26/07/2016)

A manufacturer or principal manufacturer of articles of jewellery may also do trading of articles of jewellery from his central excise registered premises. No excise duty will be payable on the sale of traded articles of jewellery [on which appropriate excise duty, including nil duty, has already been paid]....

Read More

Excise on jewellery: Export procedure simplified

Circular No. 1042/30/2016-CX (26/07/2016)

(i) There shall be no requirement for taking central excise registration by a manufacturer or principal manufacturer or a jeweller, who exports 100% of articles of jewellery manufactured by him or got manufactured by him on job work basis, subject to the following conditions that:...

Read More

Excise on jewellery: Guidelines for Excise Audit of Manufacturers

Circular No. 1041/29/2016-CX (26/07/2016)

In the context of Excise Audit of manufacturers/principal manufacturers of articles of jewellery or parts of articles of jewellery or both, falling under heading 7113 of the Central Excise Tariff Act [hereinafter referred to as articles of jewellery] the Sub-Committee has made certain recommendations, which have been accepted by the Gover...

Read More

Excise on Jewellery: Exemption from registration upto full SSI limit

Notification No. 40/2016 Central Excise (N.T.) (26/07/2016)

Seeks to amend notification No. 36/2001-Central Excise (N.T.) dated 26th June, 2001, so as to exempt a manufacturer or principal manufacturer of articles of jewellery or parts of articles of jewellery or both, falling under heading 7113 of the Central Excise Tariff Act, 1985 (5 of 1986) from taking central excise registration upto the ful...

Read More

Excise on jewellery: Computation of exemption, eligibility & exemption limits

Circular No. 1040/28/2016-CX (26/07/2016)

Clarification on computation of exemption and eligibility and exemption limits and other related issues for small scale industries [SSI] exemption under Notification No. 8/2003-CE dated 1st March 2003 in respect manufacturer or principal manufacturer of articles of jewellery or parts of articles of jewellery or both -regarding....

Read More
Page 1 of 512345