If a company engaged in manufacturing veneers, located in any state of India (say Nagaland ) has a stock of veneers at its factory premises, will it be liable to pay excise duty on the stock value???
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Levy of excise duty on stock lying at factory
Replies (5)
Dear Anup
Make sure that, your manufacturing product is excisable, if its excisable goods, your annual turnover must exceed 15 lakhs, if it’s not exceeds you are no need to pay duty the goods and no need to get registration with central excise department.
Please wait for for others response
Regards
Kumar
its means there 15lac threshold limit, beyond of registration..mandatory...any ref...plz attached.
Anuj..if this so..what abt SSI..................150 Lac.....
its means there 15lac threshold limit, beyond of registration..mandatory...any ref...plz attached...kumar hattanna
if this so..what abt SSI..................150 Lac.....
the limit for registration for excise is 150 lacs of excisable turnover and if you not want to pay excise on stock value than take permission of commissioner and register the ware house to store it.
there is no need to pay exicse duty on stock laying at factory. duty is payable only on clearence
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