Hi We have recently obtained franchise of a nationally reputed brand. The turnover of the franchisor and that of other franchises is more than Rs. 10 lakh. However, the TO of our enterprise, in whose name we have obtained the franchise is not more than Rs. 10 lakh as of now. I believe ST will not be applicable to my enterprise in that case. Please confirm/ correct me.
Thanks
If you are using a brand of your frinchisor, the 10 lakh SSI exemption is not applicable to you. Read the principal notification, there are certain conditions. one of the conditions is use of brand name for which such SSI exemption is not applicable.
Hi Deepali,
Brand owners are the exclusions from ST Turnover Exemption like they are excluded from SSI Exemption Limit in case of Excise Laws.
Indirect Turnover Tax benefits are not given to Brand Owners which is clearly visible from this.
T R SOOD & CO
New Delhi
CA Inter
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BHUPINDER SHAH AND COMPANY
New Delhi
CA Inter
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