06 October 2015
As per Notification No. 8/2003-CE dated 13.2003 as amended excisable goods manufactured by Small Scale Industries are exempt up tp a value of clearance of 150 lakhs in a financial year. If value of clearance exceeds this limit in the same financial year then you have to pay duty on the value of clearances exceeding this limit. SSI exemption is available to a manufacturer during next financial year provided that value of clearance during previous financial year did not exceed Rs, 400 lakhs. Otherwise you have to pay duty on the first clearance effected from 1 April of the next financial year.
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