in case aggregate value of clearances(avc)of a unit in year 2010-11 is 200 lakhs ,then it is eligible for SSI exemption in year 2011-12. Now say it`s avc for year 2011-12 is 500 lakhs . Then what would be its status in 2012-13? Basically should we consider turnover for 2011-12 as 350 lakhs or 500 lakhs ? Is clearnces exempted under SSI notification included in AVC while determining the limit of 400 lakhs in previous year? Thanks in advance.
02 December 2012
after 400 lacs of clearance in one accounting year for home consumption, the assesee will not be in position to avail the benefit of SSI (8/2003 as amended) for the next year. 400 lacs is to be computed for any one financial year (apr to march) and will not include the clearance in any year either prior or later.
export sales are not included in the value for such clearance.
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