excise liability of firm having turnover 162 lakhs
This query is : Resolved
03 June 2011
on of our client has a turnover of 162lakhs
is those are liable for excise duty
they are not registered yet?
they manufature some matterials?
is those are liable for excise duty
they are not registered yet?
they manufature some matterials?
03 June 2011
you can claim SSI Exemption. Ssi exemption is available if ur turnover not exceed Rs.400 lakhs in immeditely preceding year. If ur eligible for SSI exemption as per this condition you can take exemption.
After availing exemption u r not required to pay excise duty clearnce upto Rs.150 lakhs.As ur clerances exceed rs.150 lakhs you have to pay duty on amount exceeding rs.150 lakhs.you have to get registered and pay duty on rs.12 lakhs.
After availing exemption u r not required to pay excise duty clearnce upto Rs.150 lakhs.As ur clerances exceed rs.150 lakhs you have to pay duty on amount exceeding rs.150 lakhs.you have to get registered and pay duty on rs.12 lakhs.
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