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ssi exemption

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..... sir, we plywood manufacturing firm, first time in 2011-2012 crossed the turnover of Rs.4 Crore for local consumption. Now In 2012-2013 we are paying the duty from 1st April 2012. We proposed to limit the turnover below 4crore in 2012-2013. can we avail SSI Exemption in 2013-2014. Regarding this matter we discussed with our Central Excise Range office, They says that if once Crossed 4Crore Turn .....

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..... over Once, Should pay duty from 1st april in every financial year in future. Pls inform the rules or notification no for the SSI Exemption. Thanking You SIBY - Reply By raj kumar shukla - The Reply = The restriction would be for 2012-2013 only. you may refer notification, no. 8/2003 in this regard - Reply By NEERAJ KUMAR, RANCHI - The Reply = Your Range officer is quite correct. Once c .....

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..... rossed 4 crore SSI benefit is over. - Reply By raj kumar shukla - The Reply = only for next financial year - Reply By MANDAVILLI RAMAKRISHNA - The Reply = better to read carefully the relevant provisions in the act. once ssi crosses the turnover limit, they are taxable unlike SERVICE TAX DEALERS. - Reply By raj kumar shukla - The Reply = please go through my reply carefully, read the p .....

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..... rovisions of notification(not Act as mentioned by you) then comment again. - Reply By KIRTIKUMAR PUROHIT - The Reply = As per notification, no. 8/2003 restriction is only for financial year 2012-13 full rate payment of duty and turnover 2012-13 for year below 4 crore than you can avail benefit of exemption concessional rate of duty in next year i.e.2013-14 - Reply By sv bhasker - The Reply .....

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..... = Sir, I agree with the views expressed by Mr Raj kumar and Mr Purohit. If your turnover is 3,99,99,999 as on 31.3.2013, you can avail full exemption upto 1.5Cr from 1.4.2013 under 8/2003 CE as amended. - Reply By NEERAJ KUMAR, RANCHI - The Reply = In this context, I wish to put a hypothetical question for discussion, If any assessee crossed the limit of Rs 4 crore during any financial .....

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..... year(Sppose 2010-11). Let it be 10 Crore. In the next financial year(2011-12), he can not avail any exemption, but later in the financial year(2012-13), he can avail exemption up to Rs 1.50 Crore. By this way he can save duty upto the extent of Rs 12 lakh roughly. In view of this why not all the assessee take advantage of this. Had I been an assessee I would have doen it every alternate year. Kind .....

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..... ly give your views. - ssi exemption - Query Started By: - siby jose Dated:- 28-5-2012 Central Excise - Got 8 Replies - Central Excise - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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