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Excise exemption for ssi - manufacturing & trading

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24 Points Posted on 12 December 2012

We are a SSI Certified Unit carrying out Manufacturing & Trading of Engineering Goods

Our Net Turnover (Manufacturing & Trading) is currently at 1.45 Cr. at the moment .  (Manufacturing Turover approx 90 Lacs and 55 Lacs Trading Turnover)

Please confirm if we need to get registered with Excise and if we have to charge excise or not

 

 
EXCISE SSI EXEMPTION NOTIFICATION 8/2003 allows a manufacturer exemption from excise on goods cleared upto a turnover of 1.5 Crores in a financial year provided turover in previous year is less than 4.0 crores.

Can the manufacturing unit engage in trading activity in the same item, if yes, will the trading turnover be included in the exemption limit of 1.5 crores & the eligibility limit of 4.0 crores?
 

regards

 

Siddharth Modi

 

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On 12 December 2012 at 15:31 Report
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Student
53 Points Posted on 12 December 2012
nly manaufactring turnover shal be considered for SSI status. . U shall start charging excise if manufactrng turnover exceeds 150 lakhs. . Provided u hv maintained SEPRATE STOCK REGISTER AND ACCOUNT FOR TRADING AND MANUFACTURING ACTIVITY.
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On 12 December 2012 at 16:12
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student
97 Points Posted on 13 December 2012

Dear siddharth


We shall not include the trading turnover in calculation of 150 lakhs.

1 Reply
On 13 December 2012 at 19:01


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