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Querist : Anonymous

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Querist : Anonymous (Querist)
03 March 2016 Dear Sir,
At present we paying excise duty and taking CENVAT credit but our turnover is below 4 cr of F.Y. 2015-16 that's why we will claiming for exemption benefit from 01/04/2016, so if raw material stock lying balance as on 31/03/2016 in stock then should we reverse cenvat credit for that raw material? because that raw material we using for further production.
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Arun Kumar Singh

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Arun Kumar Singh (Expert)
04 March 2016 If you want to avail SSI exemption then on date of 31/03/2016 you need to reversed the all laying cenvat credit in the books.
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