NASHIK: The central excise department on Wednesday made it clear that artisans or jewellers with annual turnover below Rs 6 crore have been exempted from the 1% excise duty on gold and studded silver jewellery proposed in the Union Budget. The department also appealed to the jewellers to call of their strike.
Meanwhile, the indefinite strike called by jewellers in protest against the 1% duty entered 16th day on Wednesday. Sources said the strike has affected business worth Rs 300 crore so far.
RP Sharma, commissioner, central excise, customs & service tax, Nashik II commissionerate said at a press meet that jewellers with turnover over Rs 6 crore will be given excise registration within two days along with online facilities and without verification. The certificate from a chartered accountant will be enough and the excise officials will neither visit shops nor check records.
Sharma said, “Small artisans with annual turnover below Rs 6 crore need not regiser. The registration process for others will be online and there will be no verification. They will have to give only the PAN during registration. They don’t have to maintain different records, they may submit the records they are making for value added tax, while filing quarterly returns. Those with a turnover of Rs 50 lakh a month will have to make monthly payment of duty and file quarterly reports.”
Sharma added, “The government is in the process of introducing the goods and services tax to have uniform taxation across the country. The levy of excise duty on gold and and studded silver jewellery is part of preparations towards GST.”
Rajendra Odhekar, president of the Nashik Jewellers’ Association said, “We are against the 1% excise duty and we will not call off our strike until the government rolls back it.”
The district has around 2,500 jewellery shops, including 800 in the city. The jewellers will hold a rally a Ram Lila Maidan in Delhi on Thursday to protest against the proposed duty. Around 7,000 jewellers from state will join the rally, including 30 from Nashik.