Ssi exemption
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 December 2012
Dear Experts,
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.
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.
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.
Message likes :
1 times
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
- GSTR-1A How to update Invoice
- Excess salary payment.
- Capital gain from sale of house property
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- TDS on Purchase of Immovable Property by NRI from NRI
- Stamp Paper for partnership firm change new income tax 2025
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- FORM 26A APPLICABILITY
- Value of property in capital gain
- SFT Cash Deposit in Current Account
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
