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Excise on jewellery

This query is : Resolved 
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(Querist)
20 March 2016 Can any one explain the central excise applicability for Gold and Diamonds Manufacturing / polishing / remoulding / exchange
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
20 March 2016 Tax is applicable for manufacturing ,exchange,melting of jewellery include fresh or old gold.
Proposed tax rate @1% without input credit, 12.5% with input credit.
This will impact on large manufacturers over 12 crores annually.

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