Excise basic exemption avail in single order
This query is : Resolved
sachin sabale
(Querist)
27 August 2016
New manufacturing company is starting. Excise registration also is obtain by company before starting of production. Company get First order to sale Rs.2 crore in single order. My question is, in this situation can company get benefit for not charges to excise up to basic exemption as per excise Act(i.e. 1.5 Cr). If company exceeding 1.5 crore turnover for this order, start to charge excise as per applicable rate. Company raised various bill in single order. Reply
Arun Kumar Singh
(Expert)
28 August 2016
Even if invoice raised in single then also you can take the SSI exemption upto 1.5cr. You need to pay Excise duty on only 50 lakhs. If any issue then you should consult with any professional.
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