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.
Sorabh Gupta
(Expert)
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
sai sruthi
Verified PRO Member
- Tax on Amount transferred in HUF Account
- Nursery business
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Working on Gold wastage during Melting of old gold jewellery
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- TDS on Dashcam rent and allied services
- Section 269ST applicability for capital introduced by partner to his partnership firm
- Gift to nri relatives residing in usa
- How do you manage client document collection and follow-ups in your CA/CS practice?
- Urd purchase entry in tally prime
- TDS- 2026-27 Q1 Correction
- GSTR-9C filing
- Royalty payments to the Mining Department for procurement of murum - GST input
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- Import Order Cancelled.
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia PRO Members
Verified professionals on CAclubindia
sai sruthi
Verified PRO Member
- PRO badge
- Ad-free
- More exposure
CAclubindia
