The government has further extended the deadline for jewellers to get their businesses registered with central excise department. This is the second extension which the jewellers have got for registering their units. On March 21, a circular which had details of a committee with members from government and trade to sort out the issue, also said that registration can start from 60 days after March 1.
The latest circular issued by the ministry of finance said that the deadline for jewellers to get registered under excise rules has been extended to July 1. The tax will be applicable from March 1 itself, though. The dues for earlier months can be cleared together when the duty for June is finally paid. The circular came on April 23, just a day before the 10-day truce period was ending.
Centre proposed of levying one per cent excise duty on non-silver jewellery during the budget, but that led to the jewellers going on an indefinite strike, alleging that they had earlier experience of the department’s high-handedness. After continuing the agitation for more than a month, the jewellers finally decided on a 10-day break from April 14 to 24.
The Centre has constituted a panel under former Chief Economic Advisor Ashok Lahri to look into the demands of jewellers. The panel will look into issues related to compliance procedure for the excise duty, including records to be maintained, forms be filled, operating procedures, and other relevant issues.