Excise duty CENVAT for readymade garments and made up articles of textiles
Monday, January 30, 2017     Category : Indian Budget 2016-17

 

Customs duty tariff rate changes as per Indian Budget 2017-18
Central Excise Duty changes as per Indian Budget 2017-18
Service Tax rate Changes under Indian Budget 2017-18

(Updating soon after Budget 2017-18 on 1st February,2017 under text format and pdf format)



Budget 2016-17 changes in customs import duty tariff,excise duty and service tax

Indian Union Budget 2016-2017, changes in import customs tax tariff, chapter wise

Indian Budget 2016-17, Excise duty tariff changes, chapter wise

Changes in Service Tax as per Budget 2016-17

 

Excise duty CENVAT for  readymade garments and made up articles of textiles

 

The Indian Budget 2016-2017 reads about excise duty and CENVAT for made up articles of textiles and garments as below:

Excise duty of 2% (without CENVAT credit) or 12.5% (with CENVAT credit) is being levied on readymade garments and made up articles of textiles falling under Chapters 61, 62 and 63 (heading Nos. 6301 to 6308) of the Central Excise Tariff except those falling under 6309 and 6310 of retail sale price (RSP) of Rs.1000 and above when they bear or are sold under a brand name. This optional levy would apply to such readymade garments and made up articles of textiles regardless of the composition of the garment / article. However, in respect of readymade garments and made up articles of textiles other than those mentioned above, the optional levy of „Nil (without CENVAT credit) or 6% (with CENVAT credit)? in case of garments / articles of cotton, not containing any other textile material and „Nil (without CENVAT credit) or 12.5% (with CENVAT credit)? in case of garments / articles of other composition, as the case may be, shall continue. The tariff value for readymade garments and made up articles of textile is also being increased from 30% to 60% which shall apply to all goods mentioned in the notification No.20/2001-CentralExcise (N.T.) dated 30.04.2001. It may be noted that the new levy is similar to the levy of mandatory excise duty of 10% on readymade garments and made up articles of textiles [goods falling under Chapters 61, 62 and 63 (heading Nos. 63.01 to 63.08)] when they bear or are sold under a brand name, which was introduced in the Budget 2011-12, except that: 3 a. The present levy is an optional levy, that is domestic manufacturers will have the option to pay excise duty of „2% (without CENVAT credit) or 12.5% (with CENVAT credit)?, b. The levy is restricted to such articles which have RSP of Rs.1000 and above, and c. The tariff value is being revised from 30% of RSP to 60% of the RSP.

 

 

 

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