joji jose (audit manager) (242 Points)
14 February 2011Dear sir
One of our client a SSI unit manufacturing firm, manufacturing Castic Soda, during the month February 2011 its turnover crossed the limit of1.50 crores. What are the steps to be taken by the company with regard to Central Excise. Kindly guide me
CA Unnikrishnan Nair N
(Chartered Accountant)
(2083 Points)
Replied 15 February 2011
If you have crossed Rs.150 lakhs, get registered under Central Excise and start paying duty. Intimate invoice numbers. File ER-3 quarterely. For registration, log in to aces.gov.in
kamlesh s
(Partner)
(41 Points)
Replied 15 February 2011
Hello,
Sorry for posting in this thread but it's relavent i feel.
Sir,
My customers purchase order has Basic Excise Duty :4% , but my unit is new, It has not yet crossed 1.5C
What shall I do?
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 15 February 2011
there is no Basic excise duty rate @ 4% ....its 10% in general . please share your commodity sub heading number to discuss more
kamlesh s
(Partner)
(41 Points)
Replied 15 February 2011
https://www.livemint.com/2010/03/03001655/A-vision-of-corrugated-boxes-a.html
I'm not sure of commodity sub heading but you can refer to the link above.
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 16 February 2011
its 48.19, and the exemption is conditional , that its available to only those manufacturers who buy "kraft paper from market, and the entire process from buying to finish of boxes is done in their factory only"
exemption notification no 04/2006 as amended by 10/2010
Madhukar N Hiregange
(Chartered Accountant)
(39034 Points)
Replied 16 February 2011
The manufacturer who is liable to pay excise duty can avail the credit of the excise duty paid stocks in hand as well as in progress and the capital goods credit.
This maybe used for payment of excise duty payable in normal course.
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961
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