Company having turnover less that rs.150 lacs
This query is : Resolved
25 June 2014
Dear Sir,
Our company is a Small Scale Industry having current turnover of about Rs. 8 Crores through local trading sale. Now our Directors are planning to start a furniture manufacturing business by company's name and wants to keep all the papers up to date. Now I want to know that, do we have to apply for Excise Registration Number for the same? Please advise me so that we can start our business by keeping all our papers.
Our company is a Small Scale Industry having current turnover of about Rs. 8 Crores through local trading sale. Now our Directors are planning to start a furniture manufacturing business by company's name and wants to keep all the papers up to date. Now I want to know that, do we have to apply for Excise Registration Number for the same? Please advise me so that we can start our business by keeping all our papers.
07 July 2014
You can go for excise registration after exhausting the first 150 lacs available for SSI units. But after reaching 150 lacs, you have to register, clear the products, pay duty and avail cenvat benefits.
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