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<h1>Excise Duty Exemption for Jewelry and Diamonds Effective June 16, 2005, Under Finance Act 1994, Amended in 2006</h1> The notification exempts cut and polished diamonds, gemstones, and plain or studded jewelry of gold and other precious metals from the entire excise duty effective from June 16, 2005. Issued under the Finance Act, 1994, it specifies that the taxable service related to the production or processing of these goods, as outlined in the Central Excise Tariff Act, 1985, is exempt from service tax. This exemption applies to services provided by any person involved in the manufacturing process. The notification was amended in 2006 to replace 'a commercial concern' with 'any person.'