1% excise duty on jewellery
This query is : Resolved
Sanjeev Agarwal
(Querist)
25 March 2016
A jeweller is engaged into manufacturing as well as trading of jewellery. His turnover from manufacturing during f.y.2014-15 is Rs.11.00 crores and from trading is Rs.5.00 crores. Is he eligible for registration and payment of excise and not eligible for SSI exemption?
Does turnover includes both trading and manufacturing turnover?
Does turnover includes both trading and manufacturing turnover?
Ankur Singhal
(Expert)
25 March 2016
Dear
the jeweller is eligible to adopt ssi exemption.
as the trading turnover is not included in calculation of eligibility limit.
the jeweller is eligible to adopt ssi exemption.
as the trading turnover is not included in calculation of eligibility limit.
Sanjeev Agarwal
(Querist)
26 March 2016
Can you please elaborate and also suggest some text for reading.
Ankur Singhal
(Expert)
26 March 2016
DEAR
Provided further that exemption contained in this notification shall not apply to goods which are chargeable to nil rate of duty or are exempt from the whole of the duty of excise leviable thereon.
tRADING ACTIVITY IS EXEMPTED FROM EXCISE.
THE ABOVE IS EXTRACT FROM NOTIFICATION 8/2003, SSI EXEMPTION NOTIFICATION.
LINK IS REPRODUCED BELOW.
https://www.eximkey.com/notification.php?intId=2225&Path=/Sec/Excise/nc/NotTariffNonTariff/NotificationsIssuedInTheYear2003/Tariff/NTF__NO__08-2003-CE_DT__01-03-2003.htm
FOR ANY CLARITY PLS DO REVERT.
Provided further that exemption contained in this notification shall not apply to goods which are chargeable to nil rate of duty or are exempt from the whole of the duty of excise leviable thereon.
tRADING ACTIVITY IS EXEMPTED FROM EXCISE.
THE ABOVE IS EXTRACT FROM NOTIFICATION 8/2003, SSI EXEMPTION NOTIFICATION.
LINK IS REPRODUCED BELOW.
https://www.eximkey.com/notification.php?intId=2225&Path=/Sec/Excise/nc/NotTariffNonTariff/NotificationsIssuedInTheYear2003/Tariff/NTF__NO__08-2003-CE_DT__01-03-2003.htm
FOR ANY CLARITY PLS DO REVERT.
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