Coming out of Excise
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 March 2010
Sir,
We have claimed SSI excise exemption notification 8/2003 as on 01.04.2009.
But in current year we have not crossed 1.5 crore turnover. Hence we didn't get into excise
Even in next financial year we do not expect to do business more than 1.5 crores.
My query is, Now we want to come out of Excise ambit:-
1)We want to surrender Excise Certificate, how do we do and when to do
2)We have PLA Balance of Rs.40,000/-; Cenvat c/f balance of Rs.90,0000/-; 50% balance of Capital goods purchased Rs.1,20,000/-, how do we get the refund
3)Whether we have to request them to conduct excise audit
Kindly experts, help me out.
We have claimed SSI excise exemption notification 8/2003 as on 01.04.2009.
But in current year we have not crossed 1.5 crore turnover. Hence we didn't get into excise
Even in next financial year we do not expect to do business more than 1.5 crores.
My query is, Now we want to come out of Excise ambit:-
1)We want to surrender Excise Certificate, how do we do and when to do
2)We have PLA Balance of Rs.40,000/-; Cenvat c/f balance of Rs.90,0000/-; 50% balance of Capital goods purchased Rs.1,20,000/-, how do we get the refund
3)Whether we have to request them to conduct excise audit
Kindly experts, help me out.
29 March 2010
The PLA amount may be claimed by filing refund under section 11B.
The CENVAT credit amount shall lapsed with the surrender of licence.
The CENVAT credit amount shall lapsed with the surrender of licence.
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