Excise duty on gold diamond jewellery

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Querist : Anonymous

Querist : Anonymous (Querist)

22 December 2011 What is the sale limit to apply excise duty on branded jewellery(gold jewellery studded with natural diamonds).

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)

22 December 2011 To the extent, the value of clearances for home consumption of the manufacturer/unit is within the eligibility limit (of Rs.4 crore in the previous financial year), benefit of SSI exemption would be available up to a value of clearances of Rs.1.5 crore in the current financial year. The condition that would have to be fulfilled is that the goods cleared for home consumption should either be unbranded or bear the brand name of the manufacturer himself. If these conditions are fulfilled, the unit would not be required to register till the exemption threshold is crossed. However, if the goods cleared for home consumption bear the brand name of another person, neither the benefit of SSI exemption nor exemption from registration would be available.

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)

22 December 2011 must read the link:

https://dateyvs.com/llp.htm

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