SSI and it benefits...Urgent Sir...
This query is : Resolved
26 September 2010
Dear Experts,
Very urgent sir....
If a company or firm or individual carrying in the name of sole proprietor is an Small Scale Industry. One big advantage what the SSI has is non-payment of Excise duty for the turnover up to Rs. 1.5 crores.
My doubts are
1)This exemption is available only for first year alone or also for subsequent years until the turnover crosses Rs. 4 crores?
2)Assume the SSI has the turnover of Rs. 3.5 crores does he need not pay excise duty for Rs.1.5 crores provided all the conditions for claiming exemption in excise duty has been fulfilled (such as not using others brand name etc)
With regards,
Rajesh.
Very urgent sir....
If a company or firm or individual carrying in the name of sole proprietor is an Small Scale Industry. One big advantage what the SSI has is non-payment of Excise duty for the turnover up to Rs. 1.5 crores.
My doubts are
1)This exemption is available only for first year alone or also for subsequent years until the turnover crosses Rs. 4 crores?
2)Assume the SSI has the turnover of Rs. 3.5 crores does he need not pay excise duty for Rs.1.5 crores provided all the conditions for claiming exemption in excise duty has been fulfilled (such as not using others brand name etc)
With regards,
Rajesh.
Arbind Aggarwal
(Expert)
27 September 2010
Yes this exemption is available untill the turnover crosses the 4 crore mark.
Say for example this years turnover is 3.99 crores then in next year you can claim SSI benefit upto 1.50 crore. Above 1.5 crore you have to pay normal duty.
If in any year the T.O. crosses the 4 crore mark then you are out of SSI for ever.
Say for example this years turnover is 3.99 crores then in next year you can claim SSI benefit upto 1.50 crore. Above 1.5 crore you have to pay normal duty.
If in any year the T.O. crosses the 4 crore mark then you are out of SSI for ever.
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
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- EPF ECR NEW RULES Sep 17th 2026
- Transfer of Physical Stock Between Two Proprietorship Concerns
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Taxation of crypto futures in India Fy 2026- 2027
- Issuing of delivery challan by seller of goods
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
