Ankit (MBA) (32 Points)
31 December 2015Dear Sir,
This is with reference to the query regarding the excise.
We are manufacturer of paper cone and we purchases the paper for cone from excise dealer and pay the excise.
The above case, do we require excise registration, if yes then what is the threshold or limit.
Please suggest.
Thanks,
Ankit
Madhukar N Hiregange
(Chartered Accountant)
(39034 Points)
Replied 01 January 2016
Any manufacturer of excisable goods liable to duty is required to register. There is an exemption upto 150 Lakhs of value of goods removed ( as different from sales). Once one reaches that limit they need to register.
You may examine whether the cusotmers can also vail the credit in case you were to opt for payment of duty. If so to ensure lower cost, one could avoid taking the exemption and after getting registered pay the duty and avail the credit for the paper + capital goods + input services + other inputs.
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
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