02 April 2014
My query is if any manufacturing unit voluntarily adopts for excise registration than whether it can issue exempted invoices up to 90.00 lacs and the purchaser can avail its cenvat credit though we have issued exempted invoices.
Pls note that unit is existing and going for Excise Registration voluntarily. In case of any clarification pls ask me
02 April 2014
Upto the 1.5cr turnover no need to take registration and no need to pay excise duty. Under this limit you can take the excise registration and pay the duty if goods is taxable. If you will pay the duty then you can avail the cenvat credit. without duty payment you can not avail the cenvat credit.
is there any such notification of exemption saying that newly registered unit can issue invoices without charging excise up to 90.00 lacs and the person to whom its selling means the buyer can avail the cenvat of it and thereafter turnover above 90.00lacs the excise is applicable in usual manner. thanks
CAclubindia
