Officials of the Customs and Central Excise (CCE) department moved into fire-fighting mode as jewellers and gold traders are continuing with their strike over Excise Duty. Excise officials assured gold traders that that they will face no problems while paying the proposed 1 per cent excise duty, which has been imposed from this financial year. The businessmen will have to pay the tax online, and that they will be issued registration certificates without any officers visiting them, said senior officials here on Tuesday.
“There will be no interaction between the gold traders and our officers. The former will get their registration certificates within two days after applying for it online,” said Sanjay Jain, Commissioner, CCE, Hyderabad-ll, here at a press conference on Tuesday. He stressed that the concerns of jewellery show owners and traders are misplaced.
Mr. Jain also pointed out that the 1 per cent duty will be levied on the total cost of the purchase, with the customer having to pay the excess amount.
“Our department is also not asking gold manufacturers to maintain any separate records. Their existing ones will be enough. Also, the duty has to be paid once in a month, and the returns have to be filed on a quarterly basis, that too online,” he added.
The CCE Commissioner assured gold manufacturers that the CCE department will help them with exports on a priority basis.
“The one per cent is a very nominal amount being collected from the buyer,” said Mr. Jain.
Another official from the department said that there are around 300 odd gold manufacturers in Hyderabad alone, and that the turnover of their businesses will be known next year only after assessment.
However, gold manufacturers in the city were not convinced.
