Excise Duty on Jewellery

Taxability of Jewellery Industry Post Budget 2016-17

Excise Duty - Central Excise duty on Jewellery though introduced initially for branded Jewellery and later extended to all Jewellery was subsequently withdrawn due to pressure from the industry....

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Accounting of wastages in jewellery industry post excise duty introduction

Excise Duty - The practice prevalent in jewellery industries in India on charging for wastages from the customers along with the cost of jewellery without delivering the actual recoverable wastages has not been looked into....

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Download ER-8 return excel utility – Jewellery Manufacturers

Excise Duty - ER8 is a quarterly Return for production and removal of goods and other relevant particulars. The excel utility can be used for creating the XML file for efiling of your returns. The Efilling Excel Utility is an Excel Workbook that consists of four worksheets and are dynamic....

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Highlights of Applicability of Excise on Gems & Jewellery Industry

Excise Duty - This write up is to update you on the recent developments on applicability of Excise on Gems and Jewellery Industry. On the basis of Circular No.1040/28/2016-CX to No.1045/33/2016-CX; and Notification No.'s 26/2016-Central Excise to 29/2016-Central Excise; No.’s 33/2016-Central Excise (N.T.) to 40/2016-Central Excise (N.T.) dated 26 Jul...

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Excise Duty on Jewellery – A Nightmare!

Excise Duty - In this year’s Budget, a nominal excise duty of 1% [without CENVAT Credit on Capital Goods and Inputs] and 12.5% [with CENVAT Credit on Capital Goods and Inputs] has been imposed on articles of jewellery [excluding silver jewellery, other than studded with diamonds or other precious stones] w.e.f March 01, 2016. ...

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Excise on jewellery: Govt accepts HLC recommendations

Excise Duty - Government accepts the recommendations of Sub-Committee of the High Level Committee to interact with Trade & Industry on Tax Laws on issues relating to compliance procedure for the excise duty,records to be maintained and other relevant administrative issues....

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ICAI withdraws its publication of Excise Law on Jewellery Industry

Excise Duty - The publication Central Excise Law and Procedure for Jewellery Industry has been brought out by Indirect Taxes Committee of ICAI to familiarize the members and the industry with the various provisions of excise law and procedures pertaining to the levy of excise duty on jewellery. The response to the publication has been encouraging....

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Govt forms Committee on issues related to excise duty on jewellery

Excise Duty - Government constitutes a Sub-Committee under the aegis of the High Level Committee (HLC) on issues related to excise duty on different articles of jewellery imposed in Budget 2016-17; Committee to submit its Report within sixty days ...

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Excise Duty on Jewellery articles: No visit at jeweller’s premises

Excise Duty - There is no requirement of declaring pre-budget stocks. Directions have also been issued barring any visits to the jeweller’s premises. Jeweller’s private records or his records for State VAT or for Bureau of Indian Standards (in the case of hallmarked jewellery) would be accepted for all Central Excise purposes....

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Clarifications on Excise Duty imposed on jewellery

Excise Duty - In this year’s Budget, a nominal excise duty of 1% [without input tax credit] and 12.5% [with input tax credit] has been imposed on articles of jewellery. Even for this nominal 1% excise duty, manufacturers are allowed to take credit of input services, which can be utilised for payment of duty on jewellery....

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Reg. Excise duty exemption on Articles, other than jewellery

Notification No. 01/2017–Central Excise - (05/01/2017) - In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendment in the notification of the Government of India ...

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CBDT notifies date of applicability of Excise Returns for Jewellery Manufacturers

Notification No. 42/2016-Central Excise (N.T.) - (11/08/2016) - Specification of 17th August, 2016 as the date on which clause (v) of rule 5 and rule 6 of Central Excise (Amendment) Rules, 2016 notified by Notificaton No. 8/2016- Central Excise (NT) dated 1st March, 2016, shall come into force...

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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 instr...

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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...

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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 b...

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Recent Posts in "Excise Duty on Jewellery"

Reg. Excise duty exemption on Articles, other than jewellery

Notification No. 01/2017–Central Excise (05/01/2017)

In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department o...

Read More

Taxability of Jewellery Industry Post Budget 2016-17

Central Excise duty on Jewellery though introduced initially for branded Jewellery and later extended to all Jewellery was subsequently withdrawn due to pressure from the industry....

Read More
Posted Under: Excise Duty |

Accounting of wastages in jewellery industry post excise duty introduction

The practice prevalent in jewellery industries in India on charging for wastages from the customers along with the cost of jewellery without delivering the actual recoverable wastages has not been looked into....

Read More
Posted Under: Excise Duty |

Download ER-8 return excel utility – Jewellery Manufacturers

ER8 is a quarterly Return for production and removal of goods and other relevant particulars. The excel utility can be used for creating the XML file for efiling of your returns. The Efilling Excel Utility is an Excel Workbook that consists of four worksheets and are dynamic....

Read More
Posted Under: Excise Duty |

CBDT notifies date of applicability of Excise Returns for Jewellery Manufacturers

Notification No. 42/2016-Central Excise (N.T.) (11/08/2016)

Specification of 17th August, 2016 as the date on which clause (v) of rule 5 and rule 6 of Central Excise (Amendment) Rules, 2016 notified by Notificaton No. 8/2016- Central Excise (NT) dated 1st March, 2016, shall come into force...

Read More

Highlights of Applicability of Excise on Gems & Jewellery Industry

This write up is to update you on the recent developments on applicability of Excise on Gems and Jewellery Industry. On the basis of Circular No.1040/28/2016-CX to No.1045/33/2016-CX; and Notification No.'s 26/2016-Central Excise to 29/2016-Central Excise; No.’s 33/2016-Central Excise (N.T.) to 40/2016-Central Excise (N.T.) dated 26 Jul...

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Posted Under: Excise Duty |

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....

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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...

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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]....

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