Govt extends time for jewellers to obtain excise registration by a month

The Government on Friday extended by one month the time for jewellers to get registered with the central excise department till July 31.

It said jewellers can settle the excise dues for March-May along with that of June payments by July 31.

Finance Minister Arun Jaitley had in Budget on February 29 imposed 1% excise duty on non-silver jewellery which led to widespread protests by jewellers. The agitation, however, was temporarily called off on April 13 following assurances from the government that there will be no harassment by tax officials.

"The Central Government today announced that the time limit for taking central excise registration of an establishment by a jeweller is being extended up to July 31, 2016," a finance ministry statement said.

The Central Board of Excise and Customs(CBEC) had earlier mandated jewellers to get themselves registered with the excise department by July 1.

The statement said the liability for payment of central excise duty will be with effect from March 1, 2016.

"Assessee jewellers may make payment of excise duty for the months of March, 2016; April 2016 and May, 2016 along with the payment of excise duty for the month of June, 2016 up to the extended date of July 31, 2016," it added.