We are in business of Gold Studded Jewellery, having our own Brand Name. We do not manufacture this jewellery, but we get it manufactured by someone as per our design & technical specification. We also do not provide them any iof basic raw material. In short, we purchase from them outright. After purchasing, we put or brand name on ornaments, put a tag on item and do the packing. We sell this to Distributor, Retailer etc. In this budget, 1% excise has been levied on Branded Jewellery. Now pl. guide me on following issues : (1)Our turnover from Apr-11 to till date is 91 lacs. We have already taken Excise Regn. Now, what is the basic exemption limit after whcih we have to start charging 1 % to our customer ? (2) Till exemption limit is crossed, do we have to mention in our invoice any noti. no. pertaining to our exemption ? thanks anckoora
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