MAHESH SHAHA (ACCOUNTAT ) (43 Points)
30 March 2014Dear All
Currently we are availing cenvat credit. Now the company has decided to stop availing cenvat & avail exemption of 1.50 crore from next year. Our current turnover is greater than 4 crores. What is the procedure for the same? Can any body guide me?
SUNIL H. BHANSALI
(PROPRIETOR)
(37 Points)
Replied 30 March 2014
A unit is entitled for exemption only if its turnover in previous year was less than Rs. 4 crores. Units whose turnover was over Rs. 4 crores in 2013-14 are not eligible to any SSI concession in 2014-15. They have to pay full normal duty from 1st April, 2014 onwards.
CAclubindia
