Registration and threshold limit.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 February 2015
I want to know the liability of being
registered under the Excise for a manufacturer under SSI unit Scheme.
For e.g. if an SSI unit has a turnover of rs.2cr and yet not registered in excise, than
what will be its liability for excise regarding the registration as well as he has to pay on differential turnover after deducting the excise paid on purchases from excise registered dealers.
Sales till date 2 cr
Threshold limit 1.5 cr
excise paid in purchases of raw material 24 lakh
What will be the excise payable after registration.
registered under the Excise for a manufacturer under SSI unit Scheme.
For e.g. if an SSI unit has a turnover of rs.2cr and yet not registered in excise, than
what will be its liability for excise regarding the registration as well as he has to pay on differential turnover after deducting the excise paid on purchases from excise registered dealers.
Sales till date 2 cr
Threshold limit 1.5 cr
excise paid in purchases of raw material 24 lakh
What will be the excise payable after registration.
Arun Kumar Singh
(Expert)
23 February 2015
SSI exemption is available for all units upto 1.5cr. After this turnover you need to pay excise duty and take cenvat credit. You should consult with any professional.
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