Ssi exemption query

241 views 2 replies

sabari

student

38 Points Joined March 2013

Sir, Our client company register under SSI unit however last FY turnover exceed Rs.150 lakhs.Hence they have register under excise act last FY itself. Now my question whether excise invoice has to raise for next FY 2016-17 yes/no. please clarify my query detail explanation sir.

Replies (2)

Madhukar N Hiregange

Chartered Accountant

39039 Points Joined September 2008

Whether it has crossed 150 lakhs of value of clearances ( not turnover) in which exports, trading ++ would be exlcuded. Job work nopt under any notification done which involves manufacture would include the cost of raw material supplied free of cost. ,

If exceeded then they need to register and for 2016-17 again claim the 150 lakhs exemption if felt necessary. As there are many related issues, it is ideal to read some good commentary for more information. See SSI chapter in central excise made simple - free download at hiregangeacademy.com

jogendra

DGM-Commercial

331 Points Joined August 2011

if the value of clearance is not exceeded 4.5 CR in the previous FY, then SSI exemption would be available for Current FY. For the purpose please submit option letter to your jurisdictional superintendnet.

regards

js chauhan

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