UN BRANDED GOLD COIN

[SANJAY KUMAR SINGH]

Dear All,

As per sl.no. 200 vide Notification no. 12/2012 , gold & silver coin is to be exempted from excise tax , but subject to three conditions ;

1. The coin should be of purity greater then 99.5% or 99.9% for gold & silver respectively.
2. It should bear a brand name
3.  It should be made from gold on which  excise and custom duty has been paid

Now what will be rate for precious metal coin with un branded or purity less than 995 or both. Can we use sl.no.192 interpretation for the unbranded but with purity greater then 99.5% or 99.9% for gold & silver respectively.

When both branded & unbranded jew of any purity is out of purview of excise duty , then why there is separate treatment of coin with less purity. Any valuable clarification or comments.

Regards

SANJAY

[DR.MARIAPPAN GOVINDARAJAN]

Dear Sir,

Whether you have got clarification in this regard? If not please mention the same.

AI Summary

Excise exemption for precious metal coins hinges on purity, branding and duty-paid origin - clarification sought on unbranded or lower-purity coins. The text queries application of an excise exemption for gold and silver coins that is conditional on purity thresholds, branding, and manufacture from duty-paid metal, seeking whether unbranded coins or coins below prescribed purity qualify and asking for interpretation of separate treatment for lower-purity coins.