19 February 2014
If our company manufacturing both excisalble goods and non excisable goods then while calculating 1.5 crore exemption turnover both product sale to be consider or only excisabale goods sale to be take into consideration? Please reply as soon as possible. thank you in advance.
Now I have another query our company manufacture 1. finished goods 2.manufacture some material which used in manufacturing of other goods which we sold to other company.
We calculate the turnover 1.5 crore for both products. and we charge 1% excise duty on 1st product and 2% excise duty on 2nd product without cenvat credit.
Now we find that our 2nd product is not excisable, no need to charge 2 % excise duty. but while calculating 1.5 crore exemption most sale is of 2nd product only , the 1st product sale was only upto 50 lakh. then now is we require to pay 1% excise duty for 1st product if we not cross the 1.5 crore limit for that?
CAclubindia
