There is a concern producing Non-excisible goods of lets say with a turnover of Rs. 60 lacs. Now, it has also started manufacturing excsible goods with a turnover of approx Rs. 3.50 Cores.. So, what will be its status (SSI/ Non-SSI) for the next Financial year?
Will the Turnover will be taken as Rs. 3.50 Crores or Rs. 4.10 Crores to check the Status?
And what about Exemption of Rs. 150 lacs, if the concern results as SSI? Will the exemption amount will include the sales of Non-Excisable goods also?
What can be the other solutions to prevent the Non-Excisible goods from getting taxed in the above case if it will be included?
Can leasing it out to a related concern or hiring a job worker will help it out?
Please support with the circular no etc with your answers,if any....
CAclubindia
