Hello
F.Y 2012-13
A Ltd is a tenant in a factory from June 13 to March 14
Aggregate clearance of excisable goods for home consumption is is Rs 400 Lakhs
From 01.04.13 - 31.05.13 - B Ltd was the tenant in the same factory. His turnover was Rs 100 Lakhs
Is A Ltd eligible for SSI Exemption for the F Y 2013-14?
My doubt pertains to clubbing of clearances of all manufacturers in the same factory and how it is applicable.
Thank you for your time
A is 'NOT ELIGIBLE' for SSI Exemption
While considering the Turnover for SSI Exemption , thr Turnover of all assessees from that respective (same) factory will be Clubbed
Accordingly the Turnover in this case will be 500lakhs
So Not Eligible
U can also refer to Q.11 on Pg 13.10 of Indirect Tax Practice Manual (May 14 & Nov14 edition)
where a similar type of sum is given
HELLO MY FREIND
A LTD WILL BE ELIGIBLE FOR SSI EXEMPTION LESS THAN 400 LAKH
B LTD IS ALSO ELIGIBLE FOR SSI EXEMPTION BECAUSE IN PREECIDING PREVIOUS YEAR BUSINESS ACTIVITY IS NOT CARRIED.
MR.ASHOK
AP JO KEHNA CHAHTE HE WO TABHI POSSIBLE HOGA JAB CONTINUITY OF BUSINESS ACTIVITY HOGA. YAHA PE TENANT HI CHANGE HO JATA HAI.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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