Calculation of Excise duty....for SSI..Urgent help pls

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Rajesh (Querist)

24 October 2010 Dear Experts,
Let us assume A Ltd. is an SSI (it has not crossed a turnover of 4 crores during the preceding financial year).
During the current financial year 2010-11
the following sales has been effected by them and it is not in others brand name.

April 2010 - Rs.12 lakhs
May 2010 - Rs.10 lakhs
June 2010 - Rs.18 lakhs
July 2010 - Rs.25 lakhs
August 2010 - Rs.18 lakhs
Sep. 2010 - Rs.27 lakhs
Oct. 2010 - Rs.32 lakhs
Nov. 2010 - Rs.38 lakhs
Dec. 2010 - Rs.40 lakhs
Jan. 2011 - Rs.45 lakhs
Feb. 2011 - Rs.32 lakhs
Mar. 2011 - Rs.30 lakhs.
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Total Rs.327 lakhs
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Please tell me what is the Excise Duty we have to pay for every month. Please ignore the Cenvat Credit available amount, since i want to know what is the excise duty payable for the assessee.

Thanks & Regards,
Rajesh.

CA Punit

CA Punit (Expert)

24 October 2010 First aggregate clearances upto 150 lacs exempt.
ie. in ur case all clearances upto Oct. 10 & Rs. 8 Lacs of Nov - no duty

clearances in remaining part of the year liable to duty @ 8% + cess & eligible for credit

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CA Shailesh Kumar Bhagat

CA Shailesh Kumar Bhagat (Expert)

25 October 2010 SSI units whose turnover is less than Rs. 4 crores are eligible for the concessions. If SSI unit does not avail Cenvat on inputs, turnover upto Rs 150 lakhs is fully exempt (The limit was Rs 150 lakhs upto 31-3-2007). If SSI unit avails Cenvat on inputs, it has to pay full normal duty on all its clearances.

Basec rate of duty is 8%

Madhukar N Hiregange

Madhukar N Hiregange (Expert)

25 October 2010 Upto 150 lakhs exempt and after that liable at 10.3%. Soemwhere in November liable.
327 -150 = 177x 10.3% is the gross liability less cenvat credit if availed.

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