basic exemption

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vignesh srinivasan (Querist)
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30 June 2011 1.what is the basic exemption limit for excise?

2.basic exemption is for each year or only for the first year?

Madhukar N Hiregange

Madhukar N Hiregange (Expert)
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03 July 2011 The limit is 150 lakhs for value of clearances unbranded own branded specified goods.

Eligibility of this exemption is only if pr yr value of clearacnes of all manufactured goods is less than 400 lakhs.

vignesh srinivasan

vignesh srinivasan (Querist)
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03 July 2011 sir
u mean to.say if my t.o is less than 400 lakhs for past few years then also i need not go for excise

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RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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04 July 2011 SSI exemption is 150 lakhs for duty payment
after 400 lacs of turnover no such exemption of 150 lakhs in coming years refer to
notification 8/2003

after 90 lacs u have to get registration and exceeding 150 lacs pay duty.