20 October 2011
Please provide me details of excise levy on how much turnover.
A person is buying Yarn and Send to Job order for Weaving and Processing and Garment .
So How excise duty levy and cenvat wil be available. Whether any basic exemption limit is avaliable in excise where no Excise duty is appliable up to this turnover.
29 October 2011
There is duty on branded garments from this budget @ 10%. The cenvat credit is available. If one is manufacturing in his own brand name and aggregate value of clearance in preceeding financial year is less than Rs 4 crore then SSI exemption under notification 8/2003 is available upto Rs. 1.5 crore. But if the brand name of other person is used then no exemption is available.
CAclubindia
