Earlier Jewelry was not chargeable to excise

From 1 3.2016, Jewellery is charged to excise as follows

  1. Excise Duty @ 1% if Jeweller is not claiming cenvat (input)
  2. Excise Duty @ 12.5% if Jeweller is claiming cenvat (input)

(Notification No. 8/2003 CE dated 01.03.2003

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CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 13 years. He also provides Accounts Tax GST Training in Delhi, Kerala and online.