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Urgent Please

Pankaj Arora (Learner) (3134 Points)

07 March 2011

Dear All

Please tell me how to calculate turnover for SSI exemption limit 150lack/450Lac?

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Amit Prakash Singh (Accountant) (295 Points)
Replied 07 March 2011

Mode of calculation of limit of Rs 150 lakhs/Rs 400 lakhs

While calculating limit of Rs 400/150 lakhs – (a) Turnover of Exports, deemed exports, turnover of non-excisable goods, goods manufactured with other’s brand name and cleared on full payment of duty, job work done under notification No. 214/86-CE, 83/94-CE and 84/94-CE, processing not amounting to manufacture and traded goods is to be excluded (b) Value of intermediate products (when final product is exempt under notification other than SSI exemption notification), branded goods manufactured in rural area and cleared without payment of duty, export to Nepal and Bhutan and goods cleared on payment of duty is to be included (c) Value of turnover of goods exempted under notification (other than SSI exemption notification or job work exemption notification) is to be included for purpose of limit of Rs 400 lakhs, but excluded for limit of Rs 150 lakhs.