The Additional Commissioner, Customs and Central Excise, KR Madhar, today clarified that their officers would not visit any manufacturing unit or factory of jewellers and as announced in the Union Budget, one per cent excise duty would be levied on the turnover exceeding Rs 6 crore a year. Additional Commissioner KR Madhar in a press conference here said, “In this year’s Budget, a nominal excise duty of one per cent (without input tax credit) and 12.5 per cent (with input tax credit) has been imposed on jewellery.” While clearing doubts…
Read MoreExcise officers won’t visit jewellers’ manufacturing units: KR Madhar
