Ssi

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Querist : Anonymous (Querist)

21 February 2013 how to calculate turnover of 150 lakhs in ssi?

Rahul Sharma

Rahul Sharma (Expert)
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22 February 2013 turnover to be included when calculating 150 lakhs:
1.goods cleared under compounded levy scheme
2.export to nepal & bhutan
3. goods cleared with payment of duty
4. goods manfact. in rural area with other brand name.

Rahul Sharma

Rahul Sharma (Expert)
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22 February 2013 turnover to be excluded when calculating 150 lakhs:

1. job work amounting to manfact. done under specified notifications to be excluded
2. deemed export to be excluded
3. intermediate products/captive consumption when final product eligible for ssi exemption
4. job work or any process which does not amount to manfacture to be excluded

Rahul Sharma

Rahul Sharma (Expert)
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22 February 2013 important Book with MNEMONIC for you CA-FINAL ISCA

https://www.caclubindia.com/share_files/isca-with-mnemonic-53881.asp#.URDJ26U4v14

Querist : Anonymous

Querist : Anonymous (Querist)

23 February 2013 can you tell if Farooq haque sir's revisionary classes for idt are good?

Rajeev Kumar Garg

Rajeev Kumar Garg (Expert)
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24 February 2013 For the purposes of determining the first clearances upto an aggregate value not exceeding one hundred and fifty lakh rupees, the following clearances shall not be taken into account, namely:-

(a) clearances, which are exempt from the whole of the excise duty leviable thereon (other than an exemption based on quantity or value of clearances) under any other notification or on which no excise duty is payable for any other reason;

(b) clearances bearing the brand name or trade name of another person, which are ineligible for the grant of this exemption in terms of paragraph 4;

(c) clearances of the specified goods which are used as inputs for further manufacture of any specified goods within the factory of production of the specified goods;

For the purposes of determining the aggregate value of clearances of all excisable goods for home consumption, the following clearances shall not be taken into account, namely:-

(a) clearances of excisable goods without payment of duty-

(i) to a unit in a free trade zone; or

(ii) to a unit in a special economic zone; or

(iii) to a hundred percent. export-oriented undertaking; or

(iv) to a unit in an Electronic Hardware Technology Park or Software Technology Park; or

(v) supplied to the United Nations or an international organization for their official use or supplied to projects funded by them, on which exemption of duty is available under notification of the Government of India in the erstwhile Ministry of Finance (Department of Revenue) No.108/95- Central Excise, dated the 28th August, 1995, vide number GSR. 602 (E), dated the 28th August, 1995.

(b) clearances bearing the brand name or trade name of another person, which are ineligible for the grant of this exemption in terms of paragraph 4.

(c) clearances of the specified goods which are used as inputs for further manufacture of any specified goods within the factory of production of the specified goods;

(e) clearances for job work, which are exempt from the whole of the excise duty leviable thereon under notifications No. 214/86-Central Excise, dated the 25th March, 1986.
Rajeev Kumar Garg
(M.Com, L.L.B.)
Consultant (Excise, Customs & Service Tax)
Ph. no. +91 7500802402