Basic Exemption Limit.

This query is : Resolved

anckoora (Querist)
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24 May 2011 Dear Sir,

Our product has become excisable in this Budget. We ara a manufacturer ( not SSI).
I would like to know, (1) What is the turnover limit for exemption ? and under which notification ? (2) How the turnover is to be calculated ? (3) Is this exemption available to SSI units only ? and (4) What is the procedure to be followed once we cross the turnover limit, i.e. registration etc...?
thanks in advance
anckoora

U S Sharma

U S Sharma (Expert)
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24 May 2011 SSI exemption is 150 for duty payment
after 400 lacs of turnover no such exemption of 150 in coming years
notification 8/2003

after 90 lacs u have to get registration and exceeding 150 lacs pay duty.

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