Basic Exemption Limit.
This query is : Resolved
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
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
(Expert)
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.
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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