What turnover in 2nd for exemption
This query is : Resolved
05 April 2013
If we proprietor of a firm and register in excise from the 1st day and exempt under notification 8/2003-CE dt 1-3-2003 for Rs. 150 lakhs, or most important point we not cross the limit of 150 lakhs then in 2nd year what is the exempt limit for us is this 150 lakhs or its extend to 400lakhs.
Reply soon
Anu
Reply soon
Anu
Ashish Vaish
(Expert)
05 April 2013
No, limit of exemption will remain upto Rs 150 Lacs only.
05 April 2013
Thanks for reply Mr. Ashish, but what is the matter of 400 lakh can u explain it
Ashish Vaish
(Expert)
05 April 2013
For availing SSI benefit of 150 lacs your previous year aggregate clearances should be less than 400 lacs. In case your previous year clearances exceed 400 lacs you would not be eligible to avail even Rs 150 lacs benefit.
05 April 2013
Mr. Ashish one more Q, what exclude from 400 lakh for explain we sale to sez unit or export also and some trading items also then it exclude or not
Ashish Vaish
(Expert)
05 April 2013
For the purposes of 400 lacs, clearances to SEZ unit or exports are not taken into account.
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