Applicablity of exemption of 1.5 crores on ssi unit
This query is : Resolved
venkateswarlu
(Querist)
15 October 2015
WE ARE TAKING CLOSED INDUSTRIAL UNIT MANUFACTURING CEMENT BY GRINDING CLINKER ON LEASE FOR A PERIOD OF 6 YEARS. THE SSI CERTIFICATE IS IN THE NAME OF LESSOR. IF WE TAKE THIS UNIT ON LEASE BY ANOTHER ENTREPRENEUR NAME WHETHER THE LESSEE IS ENTITLE FOR EXEMPTION OF EXCISE DUTY UPTO THE CLEARANCES OF RS. 1.5 CRORES UNDER THE SSI
Arun Kumar Singh
(Expert)
18 October 2015
Yes, you will be entitle for ssi exemption upto 1.5cr turnover but brand name should be your name or without any brand name.
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