Jewellery Excise - Government woos trade with more sops
YOU don't need to submit your ground plan for registration; there will be no transit checks by Central Excise officers; they will not audit you for the next two years if your turnover is less than 100 crores; there will be no visit, search and seizure at job workers premises; no summons will be issued without the permission of the Commissioner; small scale exemption limit enhanced to Rs. 15 Crore.
"But please come into our net", seems to be the message of the government with regard to the excise duty of 1% [without cenvat credit] or 12.5% [with credit] imposed on articles of jewellery with simplified procedures in this year's budget. The Trade tried every trick in the trade to avoid the excise department, but the Government seems to be determined and for once there is no rollback. Please see Breaking News for more details.