2012 (6) TMI 334

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.... a joint venture company formed by M/s MMTC and MKS Holding BV, Amsterdam, Netherlands, initially sought a ruling on the following four questions: 1 Whether the process proposed to be employed by the Applicant amounts to manufacture or job work under the Central Excise Law? 2 If it amounts to 'manufacture', would it be subject to the levy of Central Excise Duty in terms of the Central Excise Act, 1944 and the Central Excise Tariff Act, 1985? 3 If so, what would be the standard and the effective rate of duty? 4 Where gold / silver products are manufactured with customer's brand name, on what value is excise duty, if any, payable? 2. The application was admitted for a ruling, vide the Authority‟s order dated 26th August, ....

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....s such as manufacture of dies and moulds, purification of metal, melting of the gold or silver, cold rolling, blanking, pickling and polishing, stamping with the aid of dies made as per designs agreed with their customers and lacquering and packing. In short, what they take in is precious metals in raw (bullion) form and what they produce is finished articles, such as medallions and articles of jewelry etc, in marketable form. 5. As some of the facts were not entirely clear, a joint inspection by the department and the applicant‟s representative was undertaken and the inspection report based on observations was submitted to the Authority by learned AR vide his letter dated 30th January, 2011. According to the inspection report, the....