Sir
If I buy goldbars from nominated agencies under para 4.34 of FTP 2015-20 which is duty free for exports for jewellery as advance procurement
Further there is no CVD on Gold bars as exempted
and after making jewellery can I export the same after charging excise duty of 12.5% and claim rebate under rule 18,( as I am having cenvat credit unutilized with me)?
2) Is there any condition that if I dont take any cenvat I have to charge ony 1% on jewellery?
Arun
Excise Duty on Exported Jewelry: 1% Duty Without CENVAT Credit, Rebate Available Under Rule 18, No Credit for Exempt Bars. A participant inquired about the excise duty implications when exporting jewelry made from duty-free gold bars purchased from nominated agencies under the Foreign Trade Policy 2015-20. Specifically, they asked about charging a 12.5% excise duty and claiming a rebate under rule 18, given their unutilized CENVAT credit. A respondent clarified that a 1% duty applies if no CENVAT credit is taken on inputs or capital goods, and if the gold bars are exempt from additional customs duties, no credit can be availed. The explanation addressed both queries, confirming the rebate availability under rule 18. (AI Summary)
TaxTMI 
TaxTMI 
TaxTMI 
