EXCISE INPUT AND OUT PUT

This query is : Resolved

parimala k (Querist)
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28 February 2009 Hellow... friends..

1. what is the limit for excise registration?

2. is there any saparate limit for SSI?

3. if i take registration on 1/4/09 can i take input on before 1/4/09 purchases? (only 1 type of product is manufacturing)

4. if iam having registration but not raising excise invoice up to my turnover is not reaching 1.5 creore. is it right?

regards.

venkatesh. b

CA PRAMOD SARAOGI

CA PRAMOD SARAOGI (Expert)
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01 March 2009 1. Excise Registration has to be obtained when the turnover reaches Rs. 1 Crore. However, Liability for Excise Duty arises only when the turnover exceeds Rs. 1.50 Crore.

2. Yes, if the Investment in Capital Assets does not exceed Rs. 4 crores then only the benefits of Rs. 1.50 Crores is available.

3. Input credit cannot be taken for the period prior to the date of Registration.

4. Once you are registered you have to issue Excise Invoice even you are not chargeable to Excide Duty