Hi all,
My question relates to one of procedural aspect. If a unit has turnover of less than Rs. 150 Lacs for the financial year, 2005-07, then it could claim exemption of SSI as per notification 8/2001.
To avail full exemption from duty, whether there is any need to file declaration as required in Notification 36/2001. A plain reading of it says that if exemption is based on value then declaration need not be filed. I dont know if there has been any change in rules thereafter.
So please help as to whether it is statutory requirement to file declaration for claiming SSI exemption upto Rs. 150 lacs of turnover.
CAclubindia
