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Ssi exemption of 4 cr.

EXICSE (Legacy) 1137 views 1 replies

Vishal Agarwal

Accounts Asst.

24 Points Posted on 11 March 2015

hi Experts,

I am a Footwear & Apparels Manufacturer who is registered in excise since 2011 - my turnover was over 1.5 cr so took registration and have been paying excise tax.

in 2011 i took exemption of 1.5 cr on a total turnover and paid duty on rest

in 2012-13 my turnver was 4 cr ( i took exemption of 1.5 as in previous year the duty did not crossed 4cr and paid the rest)

in 2013-14 excise on apprels was removed so my exciseable goods turnover was 2.5 cr but i paid duty on whole as in previous year i crossed the limit of 4 cr.

my question is can i avail the exemption again in the year 2014 - 15 as my exciseable good turnover was not 4 cr can i avail the exemption

please reply with some supporting case example so that can be sure.

thanks

Replies (1)

SANJEEV

CA Final (B.COM)

189 Points Posted on 12 March 2015

Yes you can claim the exemption of 8/2003 SSI in 2014-2015 Since your AVC (Including clearance to nepal and bhutan) does not exceed 4 Cr in previous year. Once you paid duty in part of the year you can not claim exemption in rest of months. But next year if your AVC is less than 4Cr in previos year then again you can claim exepmtion.