Calculation of turnover, Central Excise

[Satish sohoni]

Our sales comprises of direct exports+domestic sales under exemption certificate under 10/97+other domestic sales I would like to know for calculating excisable turnover Wheter I can reduce direct export + sales under 10/97 exemption certificate and then if balance is 1,5 crore then I am expected to pay excise duty is it correct?

Posts / Replies

[Surender Gupta]

Yes, for claiming exemption upto 1.5 crore, you can deduct the clarace of direct export + sales under notificatio no. 10/97. However for calculating turnover of the previous year, clearing under notification no. 10/97 shall be taken into account.