The Central Board of Excise & Customs vide Circular No. 1033/21/2016 extended the time limit for taking excise registration of an establishment by a jeweller to 31.07.2016.
As per the present and earlier notices in this connection, though the liability to pay excise duty is applicable from 1st March 2016, the assessee jewelers can make payment for the month of March, April, May along with June 2016.
Earlier, the Central Government has levied 1% excise duty on all articles of jewellery except for silver jewellery, other than those studded with diamond, ruby, emerald or sapphire. Despite of all protests from the jwellers, the Government proceeded with the decision and has constituted a Sub-Committee under the High-Level Committee to interact with the dealers and associations.
Read the circular here.
