02 April 2011
There is a lot of confusion regarding the excise duty on garments among the manufacturers. there are certain points I want to clarify
1. Very Important queston is who is elegiable for registration with the excise department? or Who is exempted to take registration? My turnover in 2010-2011 was around 60lakhs. Do I need to have registeration with the department?
2. Does every manufacturer have to do the excise formalities even if they are under the excemption limit of 1.5 crores?
3. I manufacturer kidswear which does not have MRP printed on it. I sell the goods to semi wholesaler and from there it goes to the retail counter. Therefore the final price to the customer is fixed by the retailer as per his profit margin. Now is it necessary for every manufacturer (even if they dont have to registered) to have a MRP printed on the product?
02 April 2011
(1)no need to take excise registration if your turnover was 60 lacs yr 2010-2011. (2) no need to excise formality (3) only branded garment attract excise duty.
CAclubindia
