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The Government of India, vide  Circular No. 1025/13/2016-CX  dated 22 nd  April, 2016 ,  has constituted the sub-committee of the High Level Committee  to consider the issues related to compliance procedure for the excise duty, including records to be maintained, operating procedures and any other issues that may be relevant concerning the imposition of excise duty on Articles of Jewellery w.e.f 1 st  March 2016.

Supoose man take you to the jewelers have you bought 10 grams of pure gold at Rs 30,000. You have to take her to the jewelers Bnbane defeat. Goldsmith took you 10 grams of gold and Rs 2,000 will Bnbai. Well you said. Goldsmith then removed and 1 g of 1 gram of gold put taka. Why could not

The Central Excise Returns ER4, ER5, ER6 and ER7 are not required to be filed w.e.f 1st April 2016 (refer notification No.8/2016 CE(NT) dtd 1.3.2016 & 13/2016-CE(NT) dtd 1.3.2016 ). Assessees can continue to file these returns in ACES for the past period. A new Annual Return, is prescribed under Rule 12 (2) (a) of Central Excise Rules, 2002 read with Rule 9A of Cenvat Credit Rules, 2004. The new format will be notified by the Board. The same has to be filed by 30th November 2016.

rjun (Fictional character):  Krishna, what is the reason of agitation held by Jewellers across the Country. Why there businesses are closed from so many days? Let us discuss the reason of agitations as well as implication of taxation on gold and effect of the same on businessman and customers. Krishna (Fictional character):  Arjuna, Government have reason to believe that black money is generally invested into jewellery and real estate. To deal with the same, in the recent years, Government have come up with the various legal provisions to regulate real estate business and

From last 35 days All over the country all jewelers are on Strike against the Excise duty imposed in the Union Budget 2016. Holi, Gudi Padwa, etc. all festival are passed or in upcoming days but still they are on STRIKE and also government also not accepting the demand as the Imposition of excise in line with GST. The scheme of levy and collection of Central Excise duty on articles of Jewellery is as under: (a) The levy and collection of Central Excise Duty is on the manufacture of Jewellery (excluding silver Jewellery, not studded with diamonds, ruby, emerald or sapphire). (b) It is applicable to both branded as well as unbranded Jewellery.

Union Budget 2016: Important changes in Excise & Customs effective from April 1, 2016 Affirming that the economy is right on track, the Hon’ble Finance Minister Shri. Arun Jaitley presented the Union Budget for 2016-17 on February 29, 2016. Although, Shri. Arun Jaitley in his ‘Make in India’ Budget speech laid more emphasis on agriculture, farmers welfare, infrastructure, social sector etc., but there are slew of changes in Indirect Taxes also, requiring attention of the Trade & Industry. Under Excise & Customs, all changes in rates of duty take effect from the midnight of 29 th  February / 1 st  March, 2016. Some of the important changes are: Excise duty @ 1% without Cenvat credit on Inputs and Capital Goods (Cenvat credit available on Input Services)/ 12.5% with Cenvat credit on article of jewellery;

UNION BUDGET 2016: CHANGES IN EXCISE AND CUSTOMS: Changes in Customs and Central Excise law and rates of duty have been proposed through the Finance Bill, 2016 (Clauses 113 to 138 for Customs and Clauses 139 to 144 for Central Excise). In order to prescribe effective rates of duty and to carry out changes in the Rules made under the respective Acts, the following notifications are being issued: CUSTOMS Notification Nos. Date Tariff No.11/2016-Customs to No.23/2016-Customs  01.03.2016 Non-Tariff No.30/2016-Customs (NT) to No. 33/2016-Customs (N.T.) 01.03.2016 CENTRAL EXCISE Tariff No.5/2016-Central Excise to No.18/2016-Central Excise 01.03.2016 Non-Tariff No.5/2016-Central Excise (N.T.) to No.21/2016-Central Excise (N.T.) 01.03.2016