Gold/Silver Articles (Other Than Jewellery and Intermediate Products) Exempted from Excise Subject to Non Availment of Cenvat Credit

· Condition of Non Availament Cenvat Credit inserted on 8 September 2016

[Central Excise Notification No. 34 dated 8^th September 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 17^th March, 2012, namely:-

In the said notification, in the Table, for serial number 192 and the entries relating thereto, the following serial number and the entries relating thereto, shall be substituted, namely:-

(1)

(2)

(3)

(4)

(5)

“192

(I) Articles of goldsmiths’ or silversmiths’ wares of precious metal or of metal clad with precious metal, not bearing a brand name;

(II) Strips, wires, sheets, plates and foils of gold, used in the manufacture of articles of jewellery and parts thereof;

(III) Precious and semi-precious stones, synthetic stones and pearls.

Explanation. – For the purposes of entries (I), (II) and (III) as the case may be,-

(i) “metal” shall include,-

(a) any alloy in which any of the metals specified in this entry at item No. (I) predominates by weight over each of the other metals specified in such item or any other metal in such alloy;

(b) any alloy in which the gold content is not less than 37.5 per cent by weight;

(ii) “articles” in relation to gold shall mean anything (other than ornaments), in a finished form, made of, or manufactured from or containing, gold and includes any gold coin and broken pieces of an article of gold but does not include primary gold, that is to say, gold in any unfinished or semi-finished form including ingots, bars, blocks, slabs, billets, shots, pellets, rods, sheets, foils and wires.

Nil

52A

[F. No. 354/122/2016 –TRU]