Monday, February 29, 2016

Change in Excise Duty in this budget ( 2016-2017)


1.Exempt certain parts of dialysis equipment from excise/CVD

2. Refrigerated containers reduce   excise duty to  6%.

3. Excise duty of ‘1% without input tax credit or 12.5% with input tax credit’ on articles of jewellery [excluding silver jewellery, other than studded with diamonds and some other precious stones], with a higher exemption and eligibility limits of ` 6 crores and ` 12 crores respectively.

4. Excise on readymade garments with retail price of  Rs 1000 or more raised to 2% without input tax credit or 12.5% with input tax credit.

5. Excise duties on various tobacco products other than beedi raised by about 10 to 15%.


6. Extended excise duty exemption, presently available to Concrete Mix manufactured at site for use in construction work at such site to Ready Mix Concrete.