Excise unit as ssi
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 May 2013
company turnover is less than rs. 400 lacs in last F.Y. so under excise we com under SSI Unit.
but however we dnt avail benefit of excise duty exemption for turnover upto Rs. 150 lacs and we pay excise duty from re.1 turnover and so we avail cenvat credit of raw material..
under dis situation, what will be periodicity of EXcise return.. wil it be quarterly nly or monthly??
but however we dnt avail benefit of excise duty exemption for turnover upto Rs. 150 lacs and we pay excise duty from re.1 turnover and so we avail cenvat credit of raw material..
under dis situation, what will be periodicity of EXcise return.. wil it be quarterly nly or monthly??
Pankaj Gupta
(Expert)
29 May 2013
Although the company is paying duty from the the Re 1 turnover, but it is still a SSI and thus eligible to the benefits of SSI. Thus the return should be filed quartly and not monthly.
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