Exemptions
This query is : Resolved
04 July 2009
We are a Small Scale Manufacturing unit.Our sales for last three years are 120L,162L and 175L.We use red mud in 25% of our products. The qty. of red mud used is around 33% by weight of the product weight.This qualifies us for the exemptions under 03/2005.
Our annual sales figure remain below 150L limit after deducting 25% products made and sold by using red mud,where duty rate is nil.
As we remain below 150L(100L for 06-07) we have not registered with excise.
Do we have to file any returns/declarations etc with the excise department?
We maintain all records of red mud purchased and brought to factory and its consumpation details.
Please advise.
Our annual sales figure remain below 150L limit after deducting 25% products made and sold by using red mud,where duty rate is nil.
As we remain below 150L(100L for 06-07) we have not registered with excise.
Do we have to file any returns/declarations etc with the excise department?
We maintain all records of red mud purchased and brought to factory and its consumpation details.
Please advise.
05 July 2009
No return is required to be filed. You should file a declaration after crossing turnover of 90 lakhs.
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13 July 2009
We have failed to inform after crosing 90 lacs due to ignorance. What is the fine or penalty?
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