MY UNCLE STARTED MANUFACTURING BUSINESS OF PAPER TUBE PIPES IN FY.2011-12 AND MADE SALE OF RS 1.90 CRORE TO A SINGLE PARTY. HE DIDN'T CHARGED EXCISE DUTY IN HIS BILLS AS HE WAS UNAWARE OF EXCISE DUTY ON MANUFACTURED GOODS.
NOW, IN THIS FY.2012-13, THE SALE UP TO 15.07.2012 IS RS 0.90 CRORE.
I WANT TO GET HIM REGISTERED WITH EXCISE DEPARTMENT, PAY TAXES ON RS 0.40 LAKH (1.90 CRORE - SSI EX. RS 1.50 CRORE).
PLEASE GUIDE WAY TO FOLLOW TO SOLVE THE MATTER AND CLOSE THE FIRM
THANKS
CA HEMANT ARORA C/O ARORA HEMANT & ASSOCIATES RUDRAPUR 7500997200
16 August 2012
declare 40-50% sale as trading goods, and get rid of the excise prob,
i assume within 1.9 cr, there may be few diff classes of goods or varities, divide the sales in class of goods and make it trading goods of some quantity with your convenience.
CAclubindia
