About turnover limit of central excise.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 March 2012
Respected Sir,
One of my clients is about to cross the turnover of Rs.4 crore,then he has to relise compulsorily excisable bill from 01-04-12 or if his turnover remains below 4 crore then can he avial the benefit of the limit of 1.5 crore duty exemption.
One of my clients is about to cross the turnover of Rs.4 crore,then he has to relise compulsorily excisable bill from 01-04-12 or if his turnover remains below 4 crore then can he avial the benefit of the limit of 1.5 crore duty exemption.
CA Nikhil Jhanwar
(Expert)
28 March 2012
If the gross turnover of manufacturer in prevous is less than 4 crore only then he can avail exemption of first Rs. 1.50 crore turnover. Now if his turnover was below 4 crore in P.Y. 2011-12, then upto first domestic turnover 1.5 Crore in this F.Y. 2012-13, no excise duty will be levied
CA Nikhil Jhanwar
(Expert)
28 March 2012
If the gross turnover of manufacturer in prevous is less than 4 crore only then he can avail exemption of first Rs. 1.50 crore turnover. Now if his turnover was below 4 crore in P.Y. 2011-12, then upto first domestic turnover 1.5 Crore in this F.Y. 2012-13, no excise duty will be levied
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