What is turnover limit to take excise registration
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 January 2016
when to Take excise Registration.
What is basic Exemption Limit of Excise and whether it is annually can be availed.,
what is 400 Lacs for Excise
What is basic Exemption Limit of Excise and whether it is annually can be availed.,
what is 400 Lacs for Excise
02 January 2016
1.IF YOUR TRURNOVER ,CURRENT YEAR IS GREATER THAN 150 LACS,YOU SHOULD APPLY FOR EXCISE REGISTERATION. 400 LACS TURNOVER STAND FOR IN PREVIOUS YEAR.
02 January 2016
Exemption under notification, no. 8/2003 CE is applicable to SSI units, the main criterial which is taken into account for deciding the eligibility for exemption is that the turnover of Rs. 4 crores in the preceding financial year.
According to the conditions of the notification, a manufacturing unit can avail the SSI exemption upto Rs. 1.5 crore in the current financial year, if the turnover of the previous year is not exceeding Rs. 4 crores.
According to the conditions of the notification, a manufacturing unit can avail the SSI exemption upto Rs. 1.5 crore in the current financial year, if the turnover of the previous year is not exceeding Rs. 4 crores.
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