18 July 2009
One company purchasing leather from the dealers and processed that leather & makes product like Belt, Wallet etc.So is they come under the category of excise relatd goods & liable to pay excise tax and liable to file the excise return??
19 July 2009
Yes they are manufacturers and can avail the exemption of Rs 150 lakhs if previous year manufactured products less than 400lakhs and manufacturing branded goods. After 150 lakhs to pay the duty on monthly basis.
CAclubindia
