Saheed (Business) (24 Points)
08 January 2011Sir,
Whether trading turnover will calculate for Rs. 150 lakhs turnover limit under Notfn no 8/2003 for SSI units? Shall i take Excise registration if my turnover exeeds to Rs. 153 lakhs ? (out of this trading turnover is Rs. 5 lakhs only)
Regards
saheed
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 08 January 2011
150 lacs threshold exemption is for "manufacturing exisable goods" for "home consumption.
you have to apply for registration when u exceed 140 Lacs, and pay duty when u cross 150 lacs
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961
CAclubindia
