Excise duty on scrap business
This query is : Resolved
Ramakant Gupta
(Querist)
29 May 2014
A Scrap Business dealer purchase scrap of electric wire cables etc. for its manufactures. and then separate copper in wire and other material in scrap wire. and then sale these items to other traders, manufactures. Is the process of separation of elements of scrap wire is deemed manufacture in terms of excise duty. Kindly guide me on this issue.
Arun Kumar Singh
(Expert)
30 May 2014
These process are amounts to manufacture. You need to pay excise duty. SSI exemption will be available to you upoto 1.5cr turnover.
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