Excise on cookies
This query is : Resolved
25 July 2012
Dear Experts,
My company is a manufacturer of Breads and Wheat Flour products. Both the products are exempted from Excise presently.
My companies is planning to manufacture premium cookies which would have an MRP of more than 100 Rs per kg. However I am unclear about the applicability of excise on the same.
From what I have understood, Cookies which have an MRP of more than 100 Rs per kg fall under Excise. But it is not applicable on Small Scale Industries which have a turnover of less than 4 Crores per annum.
My companies turnover is more than 10 crores per annum. But this turnover is of breads and wheat flour and not of cookies.
My confusion is that whether 4 crores ceiling is applicable in my case or not ?
Any help from the experts would be highly appreciated !
Thanks,
Manish
My company is a manufacturer of Breads and Wheat Flour products. Both the products are exempted from Excise presently.
My companies is planning to manufacture premium cookies which would have an MRP of more than 100 Rs per kg. However I am unclear about the applicability of excise on the same.
From what I have understood, Cookies which have an MRP of more than 100 Rs per kg fall under Excise. But it is not applicable on Small Scale Industries which have a turnover of less than 4 Crores per annum.
My companies turnover is more than 10 crores per annum. But this turnover is of breads and wheat flour and not of cookies.
My confusion is that whether 4 crores ceiling is applicable in my case or not ?
Any help from the experts would be highly appreciated !
Thanks,
Manish
30 July 2012
the 4 crores limit is reckoned including exempoted manufactured goods. You are not eligible for the exemption as the condition is not met.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Disallowance of Section 43B(h) to sez units
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Sale of property furniture sale
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Redevolpment of bldg in mumbai
- Refund of AY 22-23
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
