07 January 2014
Excise Duty is levied on manufacture in India. In case of imports C V D is collected to offset excise duty.
As finished goods are being imported and sold as such by affixing only sticker, you can say that it does not amount to manufacture and hence no duty is payable.
08 January 2014
As per Sec. 2 f (iii) affixing of mrp stickers is treated as deemed manmfacture.
Under SSI regulations this limit is up-to 1.50 crore and up-to 4.00 crore paying the duty on concessional rate is optional. After crossing this limit you would have to pay the excise duty on full rate.
You cannot avail cenvat tax credit, if exemption is being enjoyed.
CAclubindia
