What is turnover limit to take excise registration

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 January 2016 when to Take excise Registration.

What is basic Exemption Limit of Excise and whether it is annually can be availed.,

what is 400 Lacs for Excise

ANIL JANGID

ANIL JANGID (Expert)
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02 January 2016 1.IF YOUR TRURNOVER ,CURRENT YEAR IS GREATER THAN 150 LACS,YOU SHOULD APPLY FOR EXCISE REGISTERATION. 400 LACS TURNOVER STAND FOR IN PREVIOUS YEAR.

CA Pallav Singhania

CA Pallav Singhania (Expert)
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02 January 2016 Exemption under notification, no. 8/2003 CE is applicable to SSI units, the main criterial which is taken into account for deciding the eligibility for exemption is that the turnover of Rs. 4 crores in the preceding financial year.

According to the conditions of the notification, a manufacturing unit can avail the SSI exemption upto Rs. 1.5 crore in the current financial year, if the turnover of the previous year is not exceeding Rs. 4 crores.

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