TaxTMI 
TaxTMI 
Manufacture - whether conversion of bullion to coins is manufacure?
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....anufacture - whether conversion of bullion to coins is manufacure?<br> Query (Issue) Started By: - Jameskutty Antony Dated:- 7-3-2011 Last Reply Date:- 25-6-2011 Central Excise<br>Got 4 Replies<br>Central Excise<br>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 gol....
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....d 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 Reply By Surender Gupta: The Reply: A....
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....rticles of jewellery manufactured or sold under a brand name, if maufactured, have been brought into central excise net i.e. 1% or 5% duty. Gold bars are aleady under central excise net - see central excise notification no. 5/2006 read with 5/2011 Reply By Surender Gupta: The Reply: Further, gold coins in my view still falling under exemption list - Sr. no. 24 of central excise notification no.....
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.... 5/2006 read with 5/2011 Reply By Jameskutty Antony: The Reply: Sir But the most important question is whether this conversion is manufacture? If it is manufacture, I have to pay ED. Reply By tushar aggarwal: The Reply: Plz answer whats d effective rate of gold coin in india?<br> Discussion Forum - Knowledge Sharing ....