excise on rmg
This query is : Resolved
dharmendra singh
(Querist)
07 March 2011
sir i am a ready made garmnts(kids wear) manufacturer havin turnover less than 1crore,but having a tm mark on my brand i wanna know wether this new rule of excise levy of 10% on rmg applies to me n how? sir as rumours spreaedin i v stopd despatchin goods to my party n hence billin has stopd from 1/3/2011. do i have to worry?plz help as i am too confused n dont have much knowledge regardin these things.
08 March 2011
Even ssi manufacturers ie manufacturers making branded rmg but having turnover of less than 1.5 cr are exempt. Therefore, you continue to be in exempt category.
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rajula gurva reddy
(Expert)
08 March 2011
If the brand name belongs to you, you need not pay Excise duty till your turn over cross Rs. 1 Crore including the exempted goods.If the brand name belongs to others, you have to pay excise duty on ready made garments from Rs. 1/- on wards from 01/03/2011.
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dharmendra singh
(Querist)
09 March 2011
thanks sir for resolving my query,but sir i also want to know y the retailers have stopd purchasing from me as they say have requested me hold on for a while till this matter is resolved(actually they r expecting the govt 2 roll back this duty). do they have any problem if i raise bill from now on n send them goods.plz help as all this is bitt confusing
09 March 2011
Retailers have nothing to do with excise but their cost will increase. Therefore they are trying to influence the government by strike etc. Things will normalise within few days. Rollback decision is completely of the Government.
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