Ssi turnover 150 lacs limit :
This query is : Resolved
shakti tank
(Querist)
29 August 2012
Respected sir,
we are MRP based and non MRP based (ad valorem) product SSI manufacturer .
1.
for the purpose of 150 lakhs limit calculatiuon ,weather turnover of MRP based product to include 100% or net amount i.e MRP less 35% abatement ??
2.Weather Vat to be included for the purpose of 150 lac limit(we are taking VAT credit)?
we are MRP based and non MRP based (ad valorem) product SSI manufacturer .
1.
for the purpose of 150 lakhs limit calculatiuon ,weather turnover of MRP based product to include 100% or net amount i.e MRP less 35% abatement ??
2.Weather Vat to be included for the purpose of 150 lac limit(we are taking VAT credit)?
Arun Kumar Singh
(Expert)
29 August 2012
Value for the purpose of 1.5 crores will be calculated on abated value i.e. MRP less 35% abatement.
shakti tank
(Querist)
01 September 2012
Thank you Sir,
here is one more doubt ,Weather State tax i.e VAT to be included to be included for the calculation of 150 lacs limit(WE ARE TAKING CREDIT OF INPUT VAT)
here is one more doubt ,Weather State tax i.e VAT to be included to be included for the calculation of 150 lacs limit(WE ARE TAKING CREDIT OF INPUT VAT)
Arun Kumar Singh
(Expert)
01 September 2012
Vat will not be include for the purpose of Rs/ 1.5 Crore only Assessable value will be include.
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