We are manufacturing unit and our turnover(sale) is less than 130 lacks, we are also registered as SSI Unit.
1) Please inform us that It is mandatory to Inform EXCISE DEPARTMENT about this turnover?
2) if yes than what is the procidure .
3) if we not inform EXCISE DEPARTMENT than what is done EXCISE DEPARTMENT
4) after which turnover cross we are eligible for get EXCISE number.
Sir, inthe excise manual it is clear that a SSI Exemption is limit of 1.5 corro Rs. and intimation can be done with the simple letter of intimation on company letter head.
1.If the turnover exceeds the specified limit-90lakhs, then it is mandatory to file a declaration in prescribed form to Assistant Commissioner of Cenral Excise and should obtain a dated acknowledgement. Such declaration is to be filed once in life time.
Hence it is your duty to inform Excise Department.
2.SSI units whose turnover is < or = to 150 lakhs are exempted from registration. Immediately when you crosses the limit it is your duty to get registered under Central Excise Department.
Within 7 days from the date of receipt of duly complete application Department will issue Registration Certificate containing registration number.
3. Only if in the previous FY your turnover is < or = to 400 lakhs you are eligible for SSI exemption.
Rahul Dang & Associates-Chartered Accountants
Pune
CA Inter
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SMJ global advisors pvt ltd
New Delhi
B.Com
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