I am manufacturer of aluminium circles and utensils. Since 1997 al. circles have been removed from the benefit of SSI exemption so we have got registration and items registered in our certifiacte are circles and utensils. Now in this budget utensils has been charged with the excise duty of 1% with SSI exemption. Now since i am already registered for that item will i have to follow all the procedures for utensils such as monthly return, invoice etc. as per excise rules even if i avail SSI exemption?
1 Replies
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 03 March 2011
when the goods are exempted even, registered assesee has to follow the procedure of invoice and reflect the same in ER1, the value arrived in progressive total is required for exemption limit of 150 lacs / 400 lacs for computing the SSI exemption,
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