For the purpose of Central Excise Regn computation of Sales up to 150 lakhs: Whether we should include the sales made to DRDO labs, IITs etc who are exempted for payment of Central Excise duties under Not:10/97. When we supplied to these Institutions we are not covered under Central excise limit and hence did not ask them to provide the certificate of exemption. Can we still calculate the sales turnover excluding the sales made to those Institutions for arriving at Rs150 lakhs limit.. Any proof is required that they are exempted to be produced?
Do you think that, only if we are registered with Central Excise Dept and having a Regn no, the institutions would provide an exemption certificate. This is acceptable once we are registered. In the event, we are not registaered, I can always prepare an Invoice in the name of any IIT instead of some other customer and still be within the 150 lakhs limit. What kind of proof is required to show that we have supplied to those institutions. Please highlight me on this.
CAclubindia
