No excise duty on branded gold-silver coins of 99.5 and 99.9% purity when manufactured from gold/silver on which duty has been paid-Notification
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
Notification No. 36/2016 – Central Excise
New Delhi, the 1st December, 2016
G.S.R. (E). – In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 12/2012-Central Excise, dated the 17th March, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 163 (E), dated the 17th March, 2012, namely:-
In the said notification, in the Table, for serial number 200 and the entries relating thereto, the following serial number and entries, shall be substituted, namely:-
| (1) | (2) | (3) | (4) | (5) |
| “200 | 7114 |
(I) Articles of goldsmiths‟ or silversmiths‟ wares of precious metal or of metal clad with precious metal, bearing a brand name; (II) Gold coins of purity 99.5% and above, bearing a brand name when manufactured from gold on which appropriate duty of customs or excise has been paid; (III)Silver coins of purity 99.9% and above, bearing a brand name when manufactured from silver on which appropriate duty of customs or excise has been paid. Explanation. – (1) “brand name” means a brand name or trade name, whether registered or not, that is to say, a name or mark, such as a symbol, monogram, label, signature or invented words or any writing which is used in relation to a product, for the purpose of indicating, or so as to indicate, a connection in the course of trade between the product and some person using such mane or mark with or without any indication of the identity of that person; (2) an identity put by a jeweller or the job worker, commonly known as „house mark‟ shall not be considered as a brand name.”. |
1% Nil Nil |
25 52A – |
[F. No. 354/122/2016 –TRU]
(Anurag Sehgal)
Under Secretary to the Government of India
It can never be the object of assessment proceedings to find an empirically, absolutely correct solution on every fact issue…
Penalty u/s 270A deleted as assesse filed revised computation during scrutiny correcting the mistake which was noticed only after the…
Penalty u/s 271B for unfilled column 40 in Form 3CD related to details regarding turnover, gross profit etc. for previous…
Merely rectifying computation without amending assessment order without notice to assessee does not nullify the entire assessment - ITAT In…
Once assessee discharges primary onus of providing basic documents in support of the identity, genuineness and the creditworthiness it shifts…
CBDT has notified Cost Inflation Index for Financial Year / Tax Year 2026-27 CBDT has notified "384" as Cost Inflation…