Excise exemption

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

30 March 2014 Dear All
Currently we are availing cenvat credit. Now the company has decided to stop availing cenvat & avail exemption of 1.50 crore from next year. Our current turnover is greater than 4 crores. What is the procedure for the same? Can any body guide me?

Arun Kumar Singh

Arun Kumar Singh (Expert)
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30 March 2014 If your turnover is crossed 4 crores then next year you can not avail the exemption limit upto 1.5cr. You will pay the duty from starting.