Gold/Silver Jewellery, Broken stones or dead stock - Produced in EOU or EPZ and sold in India - Effective rate of duty - 20/97 - Central Excise - Tariff

Gold/Silver Jewellery, Broken stones or dead stock - Produced in EOU or EPZ and sold in India - Effective rate of duty

Notification No. 20/97-C.E.

Dated 11-4-1997

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 exempts the goods specified in column (2) of the Table below, manufactured by a hundred per cent export oriented undertaking or a unit in an export processing zone and allowed to be sold in India under and in accordance with the provisions of paragraphs 8.32 or 8.26 of the Export and Import Policy, 1 April 1997 - 31 March 2002, from so much of the duty of excise leviable thereon under section 3 of the said Central Excise Act, as is in excess of the amount calculated at the rate specified in the corresponding entry in column (3) of the said Table.

TABLE

S. No.	Description	Rate of duty
(1)	(2)	(3)
1.	Plain gold jewellery	Rs. 220 per 10 grams
2.	Plain silver jewellery	Rs. 500 per kg.
3.	Broken stones or dead stock	50% of the aggregate of the duties of customs which would be leviable, under section 12 of the Customs Act, 1962 read with any notification for the time being in force, issued under sub-section (1) of section 25 of the said Cus- toms Act, on like goods produced or manufactured outside India if im- ported into India or the duty of excise leviable under section 3 of the Central Excise Act, 1944 on like goods produced or manufactured in India other than in a hundred per cent export-oriented undertaking or an export processing zone, if sold in India, whichever is higher.

Explanation. - For the purposes of the exemption, `dead stock' means goods which have not been exported for two years after their manufacture in the hundred per cent export oriented undertaking or the unit in the export processing zone.