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S.s.i exemption

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Querist : Anonymous

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Querist : Anonymous (Querist)
14 February 2012 Dear sir,

We are already excise ragistered s.s.i manufacturing unit having turn over of 1.4 crore.
Uptill now we had been charging excise from the very first bill and taking the modvat benefit. Now we want to avail excise exemption benefit. Please answer
1/ Do we need to keep all the ragisters like RG-1 and fill all the forms etc. even after opting for being exempted ?
2/ do we need to file quarterly returns even after availing exemption ?
3/ what will happen to our existing stock of this year ?
4/ from where we can get detailed knowledge about it ?
thanks a lot in advance. .
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U S Sharma

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U S Sharma (Expert)
20 February 2012 option to avail exemption or pay duty from 1st bill can not be changed within the year.

refer notification no 8/2003
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