Which amount is the Limit For Excise ?
2 Replies
Sumit Grover
(Chartered Accountant )
(3652 Points)
Replied 14 September 2011
If the value of Total clearances(subject to some xceptions) doesnt exceed Rs. 400Lakh during previous FY, then for current FY Excise Duty is not payable upto first claearnces(subject to some exceptions) of rs. 150 Lakh
CA Unnikrishnan Nair N
(Chartered Accountant)
(2083 Points)
Replied 15 September 2011
Small scale exemption is Rs.150L subject to that preceding years turnover has not exceede Rs.400L.
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