One of my client being an Individual engaged in Manufacturing cum Trading activities from the same Factory Premises.
Till last year i.e.F.Y.2010-11 the total turnover was less than Rs. 150 Laks hence he was not covered under Excise law so far SSI Exemption Threshould limit was concerned.
Now during the current F.Y.2011-12 the Combined turnover i.e. both manufacturing as well as trading is likely to be exceeded Rs. 150 Lacs.
Now query is whether both turnover i.e. Manufacturing as well as Trading is to be considered/counted for the purposes SSI exemption Limit so far coverage under Excise law is concerned or not towards excisabilty of Products.
That is only turnover related to Manufacturing activities is considered/counted for the purposes of SSI Exemption threshould limit is concerned.
Please reply.
CAclubindia
