25 March 2016
A jeweller is engaged into manufacturing as well as trading of jewellery. His turnover from manufacturing during f.y.2014-15 is Rs.11.00 crores and from trading is Rs.5.00 crores. Is he eligible for registration and payment of excise and not eligible for SSI exemption?
Does turnover includes both trading and manufacturing turnover?
26 March 2016
DEAR Provided further that exemption contained in this notification shall not apply to goods which are chargeable to nil rate of duty or are exempt from the whole of the duty of excise leviable thereon. tRADING ACTIVITY IS EXEMPTED FROM EXCISE. THE ABOVE IS EXTRACT FROM NOTIFICATION 8/2003, SSI EXEMPTION NOTIFICATION. LINK IS REPRODUCED BELOW. http://www.eximkey.com/notification.php?intId=2225&Path=/Sec/Excise/nc/NotTariffNonTariff/NotificationsIssuedInTheYear2003/Tariff/NTF__NO__08-2003-CE_DT__01-03-2003.htm
CAclubindia
