Excise Duty on Jewellers

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..... 1. Whether Excise duty is leviable on sale of Gold Bars/ Bricks purchased and sold as it is by a Excise Manufacturer of Jewellery ??? 2. Whether it would make any difference is purchased from - (a) an entity registered under Excise. (b) an entity not registered under Excise. - Reply By KASTURI SETHI - The Reply = Central Excise duty is always levied on manufacture of goods and not on s .....

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..... ale as it is.'Sale as it is' trading which is in the negative list. - Reply By Rajagopalan Ranganathan - The Reply = Sir, If you purchase from registered person under excise (either manufacturer or dealer) you can take the credit of duty paid on such bars/bricks. Otherwise you are not eligible to take credit of duty paid on such bars/bricks. If you sell duty paid bars/bricks no furth .....

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..... er duty is leviable. If you have any doubt about the duty paid nature of the bars/bricks normally it will be treated as smuggled gold and will attract provisions of Customs Act and to certain extent FEMA. - Reply By KASTURI SETHI - The Reply = I support the views of Sh.Rajagopalan Ranganathan Sir. - Reply By Ganeshan Kalyani - The Reply = Vat /cst would be levied on sale. - Excise Duty on Jew .....

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..... ellers - Query Started By: - CA. Puneet Gupta Dated:- 14-1-2017 Central Excise - Got 4 Replies - Central Excise - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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