Revised turnover limit for branded garment manufacturers

Bobby.Shah (proprietor) (25 Points)

04 April 2012  

Dear All,

I am a branded garment manufacturer and we sell them under our own brand name. I have couple of queries if any one can advise on that I’ll be really thankful.

  1. As per the last year’s excise  policy on branded garment, A manufacturer is exempted from the excise duty if his turnover is below the  MRP  of 3,33,00,000. Which is calculated as 45% of MRP values = 1,50,00,000. Is the exempted limit.  But now this year it is 30% of MRP  value, (  so in this case will  it  work  like exemption limit of    1.5 Cr =  30% of  5 Cr  MRP VALUE)  or it will be continue  exemption limit of  MRP 3,33,00,000  only.
  2. In  case  of  annual  discounts  offered  on  MRP  can be taken as deduction on the turnover after making the invoice ?
  3. Incase of goods  returned from  customer  on just normal chalan can be taken as a deduction from the MRP turnover.

Thanking u in advance.

Micky