TaxTMI 
TaxTMI 
Excise Duty on Jewellers
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....xcise Duty on Jewellers<br> Query (Issue) Started By: - CA. Puneet Gupta Dated:- 14-1-2017 Last Reply Date:- 14-1-2017 Central Excise<br>Got 4 Replies<br>Central Excise<br>1. Whether Excise duty is le....
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....viable on sale of Gold Bars/ Bricks purchased and sold as it is by a Excise Manufacturer of Jewellery ??? 2. Whether it would make any difference is purchased from - (a) an entity registered under ....
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....Excise. (b) an entity not registered under Excise. Reply By KASTURI SETHI: The Reply: Central Excise duty is always levied on manufacture of goods and not on sale as it is.'Sale as it is' ....
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....trading which is in the negative list. Reply By Rajagopalan Ranganathan: The Reply: Sir, If you purchase from registered person under excise (either manufacturer or dealer) you can take the credit ....
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....of duty paid on such bars/bricks. Otherwise you are not eligible to take credit of duty paid on such bars/bricks. If you sell duty paid bars/bricks no further duty is leviable. If you have any doubt a....
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....bout the duty paid nature of the bars/bricks normally it will be treated as smuggled gold and will attract provisions of Customs Act and to certain extent FEMA. Reply By KASTURI SETHI: The Reply: I ....
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....support the views of Sh.Rajagopalan Ranganathan Sir. Reply By Ganeshan Kalyani: The Reply: Vat /cst would be levied on sale.<br> Discussion Forum - Knowledge Sharing ....