Articles and Parts of Jewellery at 1% Excise Duty Manufacture
without Cenvat Credit on Inputs (12.5% with Cenvat Credit)
· Silver
Jewellery Exempted
[Central Excise Notification No. 26 dated 26th
July 2016]
In
exercise of the powers conferred by sub-section (1) of section 5A of the
Central Excise Act, 1944 (1 of 1944), the Central Government, being satisfied that
it is necessary in the public interest so to do, hereby makes the following
further amendments in the notification of the Government of India in the
Ministry of Finance (Department of Revenue), No. 12/2012-Central Excise, dated
the 17th March, 2012, published in the Gazette of India, Extraordinary, Part
II, Section 3, Sub-section (i), vide G.S.R. 163 (E),
dated the 17th March, 2012, namely:- In the said notification, (A) in the
Table, for serial number 199 and the entries relating thereto, the following
shall be substituted, namely:-
|
(1) |
(2) |
(3) |
(4) |
(5) |
|
“199 |
7113 |
(I)
Articles of jewellery |
1% |
16 |
|
|
|
(II) Parts
of articles of jewellery |
1% |
16 |
|
|
|
(II)
Articles of silver jewellery, other than those studded with diamond, ruby,
emerald or sapphire Explanation.
– For the purposes of this exemption,- An article
of jewellery or part of article of jewellery or both, produced or
manufactured from an alloy (including a sintered mixture and an
inter-metallic compound) containing precious metal may be treated as an article
of jewellery or part of article of jewellery or both of a precious metal, if
any one precious metal constitutes as much as 2% by weight of the article of
jewellery or part of article of jewellery or both (excluding the weight of
the precious or semi-precious stones, mounted or set), in accordance to the
following: (i) an article of jewellery or part of article of
jewellery or both, containing 2% or more, by weight, of platinum is to be
treated as an article of jewellery or part of article of jewellery or both,
of platinum; (ii) an
article of jewellery or part of article of jewellery or both, containing 2%
or more, by weight, of gold but not platinum, or less than 2% by weight, of
platinum, is to be treated as an article of jewellery or part of article of
jewellery or both, of gold; (iii) other articles of jewellery or parts of articles of
jewellery or both, containing 2% or more, by weight, of silver are to be
treated as articles of jewellery or parts of articles of jewellery or both,
of silver. |
Nil |
-”; |
[F.
No. 354/25/2016 –TRU (Pt.-I)]