Option under Notification No. 8/2003 CE
This query is : Resolved
25 March 2008
An SSI unit wants not to avail full exemption upto Rs 150 lakhs under Notification no. 8/2003 and instead pay normal rate of duty with Cenvat credit benefit.
Is it required to excercise its option or is this provision now redundant? Pls advise.Thanks.
Is it required to excercise its option or is this provision now redundant? Pls advise.Thanks.
17 April 2009
Mr Vikky
SSI option is for those whose annual turnover is less than 150crores & the material in hwich they are dealing in not excisable or nil rate of duty or exempeted.
Then they will opt for SSI . But it is totally recommendatory for any unit. You can be choose to pay normal rate of duty & avail the cenvat credit.
SSI option is for those whose annual turnover is less than 150crores & the material in hwich they are dealing in not excisable or nil rate of duty or exempeted.
Then they will opt for SSI . But it is totally recommendatory for any unit. You can be choose to pay normal rate of duty & avail the cenvat credit.
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
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Section 194JA & JB Income which ITR Form to use
- Scrutiny and reopening of past returns
- Pass word to open justification report for Q1 for FY 2026-27
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Type of Capital Gain
- Rental income of jointly held property
- FEMA regulation Act. for inward remitance
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
