Excise exepmption

370 views 1 replies

MAHESH SHAHA

ACCOUNTAT

43 Points Joined May 2009

Dear All

Currently we are availing cenvat credit. Now the company has decided to stop availing cenvat & avail exemption of 1.50 crore from next year. Our current turnover is greater than 4 crores. What is the procedure for the same? Can any body guide me?

Attached File : 200916 1302581 dear all.doc downloaded: 106 times

Replies (1)

SUNIL H. BHANSALI

PROPRIETOR

37 Points Joined January 2010

A unit is entitled for exemption only if its turnover in previous year was less than Rs. 4 crores. Units whose turnover was over Rs. 4 crores in 2013-14 are not eligible to any SSI concession in 2014-15. They have to pay full normal duty from 1st April, 2014 onwards.