Dear Colleages
Please give a reply to my query ASAP !
We buy Gold Bars and bullion and convert into gold coins and bars of smaller denominations by outsorucing the converison to a gold refinery on a job work basis. Coins and bars are then packed in a tamper proof packet and our logo is embossed (by the refinery only). We market the same under our brand name (not registered).
New budget has brought in 1% / 5% Excise duty on gold. Will our process be covered under manufacture? Whether we are convered under the new levy?
Thanks in advance