Central Excise Duty

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Central Excise Duty is levied on manufacture or production of goods in India. The collection of excise duty is done by Central Board of Excise and Customs. In 2016 Union budget of India, an excise of duty of 1% without input tax credit and 12.5% with input tax credit has been imposed on articles of jewellery with the exception of silver jewellery.^[1] The government had earlier proposed an excise duty in the Budget 2011-12, which had to be rolled back after massive protests by jewellers.^[2]

Law

• Central Excise Tariff Act, 1985^[3]
• Central Excise Valuation (Determination of Price of Excisable Goods) Rules, 2000^[4]

References