Excise registration
This query is : Resolved
30 April 2012
we will start our new company at DTA,and we are going to exemption of 4 cro.should we take the registration of Central Excise
30 April 2012
You need to take registration if you cross the threshold of Rs. 150 lacs. After crossing 90 lacs you just need to intimate the department.
If your turnover will cross 150 lacs in the first quarter of the year only, then take a registration before hand. But if it will cross after 6-7 months then it is better to wait. Because the moment you take the registration, whether you are liable to duty payment or not, you will have to file the return, even if it will be a nil return.
If your turnover will cross 150 lacs in the first quarter of the year only, then take a registration before hand. But if it will cross after 6-7 months then it is better to wait. Because the moment you take the registration, whether you are liable to duty payment or not, you will have to file the return, even if it will be a nil return.
04 May 2012
thank you sir
04 May 2012
Agree with expert
14 May 2012
Dear Sir
Should we give any intimation for availing SSI exemption before start the production?
Should we give any intimation for availing SSI exemption before start the production?
21 July 2024
Yes, if your manufacturing unit wishes to avail the Small Scale Industries (SSI) exemption from central excise duty, you are required to give an intimation to the jurisdictional Central Excise authorities before starting the production. Here are the key points to consider:
1. **Intimation Requirement**: According to the Central Excise Rules, 2002, under Rule 12AA, a manufacturer intending to avail the exemption under Notification No. 8/2003-CE dated 1st March 2003 (commonly referred to as the SSI exemption) must intimate the jurisdictional Superintendent of Central Excise regarding their intention to avail the exemption.
2. **Time of Intimation**: The intimation must be given before commencing commercial production or within 30 days from the date of coming into effect of the said notification, whichever is later.
3. **Form and Content**: Generally, this intimation is a letter or application addressed to the Superintendent of Central Excise. It should mention the following:
- Details of the manufacturing unit (name, address, registration details, etc.).
- Nature of goods intended to be manufactured.
- Confirmation of eligibility criteria under the SSI exemption notification (like turnover limits, etc.).
- Any other specific information as required by the jurisdictional Central Excise authorities.
4. **Acknowledgement**: Upon receipt of the intimation, the jurisdictional Superintendent will acknowledge it and may issue a registration certificate or acknowledgment indicating the eligibility to avail the SSI exemption.
5. **Effect of Non-Intimation**: Failure to intimate the Central Excise authorities before commencing production or within the stipulated time may lead to the denial of the SSI exemption benefits. It’s crucial to comply with this requirement to avoid any penalties or complications in availing the exemption.
6. **Subsequent Compliance**: Once the intimation is accepted and the exemption is availed, the manufacturer must comply with all other conditions specified in the exemption notification, including turnover limits, clearances, maintenance of records, and submission of statutory returns.
To ensure compliance with the specific procedures and requirements applicable in your jurisdiction, it’s advisable to consult with a qualified tax consultant or legal advisor who is well-versed in excise laws and procedures. They can guide you through the process of giving intimation and complying with all necessary formalities for availing the SSI exemption from central excise duty.
1. **Intimation Requirement**: According to the Central Excise Rules, 2002, under Rule 12AA, a manufacturer intending to avail the exemption under Notification No. 8/2003-CE dated 1st March 2003 (commonly referred to as the SSI exemption) must intimate the jurisdictional Superintendent of Central Excise regarding their intention to avail the exemption.
2. **Time of Intimation**: The intimation must be given before commencing commercial production or within 30 days from the date of coming into effect of the said notification, whichever is later.
3. **Form and Content**: Generally, this intimation is a letter or application addressed to the Superintendent of Central Excise. It should mention the following:
- Details of the manufacturing unit (name, address, registration details, etc.).
- Nature of goods intended to be manufactured.
- Confirmation of eligibility criteria under the SSI exemption notification (like turnover limits, etc.).
- Any other specific information as required by the jurisdictional Central Excise authorities.
4. **Acknowledgement**: Upon receipt of the intimation, the jurisdictional Superintendent will acknowledge it and may issue a registration certificate or acknowledgment indicating the eligibility to avail the SSI exemption.
5. **Effect of Non-Intimation**: Failure to intimate the Central Excise authorities before commencing production or within the stipulated time may lead to the denial of the SSI exemption benefits. It’s crucial to comply with this requirement to avoid any penalties or complications in availing the exemption.
6. **Subsequent Compliance**: Once the intimation is accepted and the exemption is availed, the manufacturer must comply with all other conditions specified in the exemption notification, including turnover limits, clearances, maintenance of records, and submission of statutory returns.
To ensure compliance with the specific procedures and requirements applicable in your jurisdiction, it’s advisable to consult with a qualified tax consultant or legal advisor who is well-versed in excise laws and procedures. They can guide you through the process of giving intimation and complying with all necessary formalities for availing the SSI exemption from central excise duty.
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
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Event company query
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
Trending Online Classes
CAclubindia
