14 February 2011
dear sirs, how to Treat Duty Exemption Certificates received by a Small Scale Industry Manufacturer. Is these to be included in the Value of Clearances of the unit and these form part of the Exemption of 4 crores turnover or should it be included in the exemption limit of 1.5 crores which is allowed in current year. what is the procedure to follow to register the unit with Central Excise
16 February 2011
For 4 crores exempted goods manufacture is to be included. However for calcuating the 150 lakhs exempted goods need not be added. Practically once you reach 130 L or so of manufactured excisable removals, the need to regiater would arise.
CAclubindia
