Is there any increase in excise basic exemption limit
This query is : Resolved
24 January 2012
Is there any increase in basic exemption limit of excise from 150 lakhs to 3 crores and if yes from which date it is applicable
Help me out its urgent
Thanking you
Help me out its urgent
Thanking you
RAMESH KUMAR VERMA
(Expert)
25 January 2012
Provisions for Clubbing of Turnover
i.Sales by the same manufacturer from different factories : Where goods are cleared from one or more factories by the same manufacturer, the turnover of the factories will be clubbed to determine the exemption limit of400 Lakhs/150 Lakhs and not separately for each factory.
ii.Sales by different manufacturers from the same factory: Where the specified goods are cleared by one or more manufacturers from the same factory, the exemption shall apply to the aggregate value of clearances of all the manufacturers from that factory.
more information:
https://taxguru.in/excise-duty/excise-duty-based-exemption-scheme-small-scale-industries.html
i.Sales by the same manufacturer from different factories : Where goods are cleared from one or more factories by the same manufacturer, the turnover of the factories will be clubbed to determine the exemption limit of400 Lakhs/150 Lakhs and not separately for each factory.
ii.Sales by different manufacturers from the same factory: Where the specified goods are cleared by one or more manufacturers from the same factory, the exemption shall apply to the aggregate value of clearances of all the manufacturers from that factory.
more information:
https://taxguru.in/excise-duty/excise-duty-based-exemption-scheme-small-scale-industries.html
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