excise on rmg
This query is : Resolved
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.
Message likes :
1 times
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.
Message likes :
1 times
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.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- Supply through E-commerce Operators
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- TAN for Partnership
- Relief u/s Section 89
- GST Registration Horse racing
- Section 43B(h) – MSME Invoice Paid Before Year End but After 45 Days
- Taxation on LTCG for property sold after 24JUL2024
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
