Ssi exemption
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 August 2011
A hosiery unit with SSI status for current year wants to avail MRP based exemption. Now whether it has to issue excise invoice from beginning and MRP need to be quoted on invoice???????
Query is-----in case of MRP if aggregate clearance RS.3.33 crore then its value as per rate of 45% will be Rs. 1.50 crores. Now upto clearance of Rs. 3.33 crores excise invoice is to be issued or not?
And whether MRP need to be mentioned on invoice???????
Query is-----in case of MRP if aggregate clearance RS.3.33 crore then its value as per rate of 45% will be Rs. 1.50 crores. Now upto clearance of Rs. 3.33 crores excise invoice is to be issued or not?
And whether MRP need to be mentioned on invoice???????
08 August 2011
any value based exemption under excise can be availed ONCE during the year and its not changable during the whole financial year.
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 August 2011
A hosiery unit with SSI status for current year wants to avail MRP based exemption. Now whether it has to issue excise invoice from beginning and MRP need to be quoted on invoice???????
Query is-----in case of MRP if aggregate clearance RS.3.33 crore then its value as per rate of 45% will be Rs. 1.50 crores. Now upto clearance of Rs. 3.33 crores excise invoice is to be issued or not?
And whether MRP need to be mentioned on invoice???????
Query is-----in case of MRP if aggregate clearance RS.3.33 crore then its value as per rate of 45% will be Rs. 1.50 crores. Now upto clearance of Rs. 3.33 crores excise invoice is to be issued or not?
And whether MRP need to be mentioned on invoice???????
08 August 2011
once registered, the assesee has to issue invoice from Rs 1/- clearance, and at the begining of the year, before 1st clearance he has to to submit the option to R/O
if he opt to avail MRP based exemption from start, then it can not be switched/ changed for the entire financial year.
if he opt to avail MRP based exemption from start, then it can not be switched/ changed for the entire financial year.
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