Central Excise

Central Excise Duty is levied on manufacture or production of goods in India. The collection of excise duty is done by Central Board of Excise and Customs. In 2016 Union budget of India, an excise of duty of 1% without input tax credit and 12.5% with input tax credit has been imposed on articles of jewellery with the exception of silver jewellery.[1] The government had earlier proposed an excise duty in the Budget 2011-12, which had to be rolled back after massive protests by jewellers.[2]

References

  1. ↑ "Only jewellers with over Rs12 crore turnover to pay excise duty: finance ministry", Live Mint, 4 March 2016
  2. ↑ "Jewellers’ strike: Govt seeks alternatives to excise duty", The Financial Express, 10 March 2016


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