22 March 2011
I am a manufacturer of readymade kidswear. As per the exise duty imposed on garments exemption is given to the people have turnover below 1.5 crore. My turnover was around 60 lakhs in 2009-2010. In the current financial year 2010-2011 the turnover is around the same figure. As I fall under the exemption limit of excise duty, do I have to register with the excise department? Do I have to fulfil any of the excise formalities?
22 March 2011
No you do not need to get the excise registration. You are exempted to take registeration upto the turn over of Rs. 150 Lacs. You do need to intimate the excise authorities once you cross the turn over of Rs. 90 Lacs in a financial year.
CAclubindia
