12 April 2012
THE FIRM 'A' IS MANUFACTURING SOME BRANDED PRODUCTS OF MRP & NON MRP PRODUCTS, OTHER COMPANY 'B' IS MANUFACTURING SAME PRODUCTS i.e. MRP & NON MRP BRANDED PRODUCTS OF THE FIRM 'A'.
IF THE PARTNERS OF THE FIRM 'A' AND DIRECTORS OF THE COMPANY 'B' IS SAME AND THE 'B' COMPANY IS SELLING THEIR PRODUCTS TO THE FIRM 'A' AND 'A' IS SELLING TO MARKET.
I WANT TO KNOW WHETHER THE BOTH 'A' & 'B' WILL GET THE SSI EXEMPTION OF 1.5 CRORE. IF NOT WHAT SHOULD WE DO FOR GETTING 1.5 CRORE SSI EXEMPTION OF BOTH THE COMPANIES.
28 April 2012
SSI exemption is available only when products do not bear brand name of others. If the product bears brand name of any other persons, no SSI exemption is available. Merely because some partner is director of another company, it does not result in denial of SSI exemption- both the units are separate legal entities.
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