04 December 2012
Dear Member, i want to clear one thing if a company registered as manufacturer & supplier of machinery parts as per the law eligible turnover for excise registration is 1.5 crore if in FY 2012-13 trading sales of company is 1.5 crore & manufacturing item sales is 1.2 crore so total turnover is 2.7 crore in that case excise registration is compulsory for company & output tax on sales is including in turnover.please guide me.
05 December 2012
Trading of goods will not be considered in the turnover of 1.5cr for SSI exemption. Only manufacturing item sale will be considered for excise duty.
CAclubindia
