Excise exemption
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 March 2014
Dear All
Currently we are availing cenvat credit. Now the company has decided to stop availing cenvat & avail exemption of 1.50 crore from next year. Our current turnover is greater than 4 crores. What is the procedure for the same? Can any body guide me?
Currently we are availing cenvat credit. Now the company has decided to stop availing cenvat & avail exemption of 1.50 crore from next year. Our current turnover is greater than 4 crores. What is the procedure for the same? Can any body guide me?
Arun Kumar Singh
(Expert)
30 March 2014
If your turnover is crossed 4 crores then next year you can not avail the exemption limit upto 1.5cr. You will pay the duty from starting.
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