Government Hikes Drawback on Gold and Silver
GOVERNMENT has hiked the drawback rates for Articles of jewellery and parts thereof made of gold from Rs. 30.90 to Rs. 100.70 per gm and for Articles of jewellery and parts thereof made of silver from Rs. 1545 to Rs. 2590.80 per kg.
The Schedule to Notification No. 68/2011 dated 22.09.2011, in respect of tariff heading 7113 is substituted as given below.
A | B | |||||
|---|---|---|---|---|---|---|
Drawback when CENVAT facility has not been availed | Drawback when CENVAT facility has been availed | |||||
Tariff Item | Description of goods | Unit | Drawback | Drawback cap per unit in Rs. | Drawback Rate | Drawback cap per unit in Rs. |
1 | 2 | 3 | 4 | 5 | 6 | 7 |
711301 | Articles of jewellery and parts thereof made of gold | Gms. | Rs.100.70 per gram of net gold content (.995 or more purity) in the jewellery | Rs.100.70 per gram of net gold content (.995 or more purity) in the jewellery | ||
711302 | Articles of jewellery and parts thereof made of silver | Kg. | Rs. 2590.80 per Kg of net silver content (.999 purity) in the jewellery | Rs.2590.80 per Kg of net silver content (.999 purity) in the jewellery | ||
711399 | Others | Nil | Nil | |||
Notification No. , Dated: May 24, 2012