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2016-07-14 / Admin

Excise duty norms on gold jewellery relaxed

The Cabinet on Wednesday relaxed the excise duty rules on gold jewellery. The new rules exempt the jewellery manufacturers having an annual turnover up to Rs 15 crore from the excise duty, as against the previous ?12 crore limit. This comes after the jewellers protested over the imposition of 1% excise duty on gold jewellery, as proposed in the budget.

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