My company is a manufacturer of Breads and Wheat Flour products. Both the products are exempted from Excise presently.
My companies is planning to manufacture premium cookies which would have an MRP of more than 100 Rs per kg. However I am unclear about the applicability of excise on the same.
From what I have understood, Cookies which have an MRP of more than 100 Rs per kg fall under Excise. But it is not applicable on Small Scale Industries which have a turnover of less than 4 Crores per annum.
My companies turnover is more than 10 crores per annum. But this turnover is of breads and wheat flour and not of cookies.
My confusion is that whether 4 crores ceiling is applicable in my case or not ?
Any help from the experts would be highly appreciated !
30 July 2012
the 4 crores limit is reckoned including exempoted manufactured goods. You are not eligible for the exemption as the condition is not met.
CAclubindia
