Imposition of Central Excise duty on jewellery-Constitution of sub-committee of the High Level Committee

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....Subject: Imposition of Central Excise duty on jewellery-Constitution of sub-committee of the High Level Committee- regarding. In the budget 2016-17, Central Excise duty at the rate of 1% (without input tax credit) and 12.5% (with input tax credit) has been imposed on all articles of jewellery (except for silver jeweler, other than those studded with diamond, ruby, emerald or sapphire). 2. In t....

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....dia associations to state their case in person. 4. Terms of reference of the Sub-Committee will include the issues related to compliance procedure for the excise duty, including records to be maintained, forms to be filled including Form 12AA, operating procedures and any other issued that may be relevant. The Sub-Committee will submit its report within 60 days of its constitution. 5. Till the....

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....ed to get LUT ratified by central excise. Prevailing system will continue. 6. The registration of the establishment with the central excise department can be taken within 60 days from 1st March, 2016. However, the liability for payment of central excise duty will be with effect from 1st March, 2016, and as a special case for the month of March, 2016, the assessee jewelers will be permitted to mak....