TaxTMI 
TaxTMI 
taking benefit of exemption limit of 1.5 crore
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....aking benefit of exemption limit of 1.5 crore<br> Query (Issue) Started By: - MEHUL ASHAR Dated:- 18-12-2013 Last Reply Date:- 26-12-2013 Central Excise<br>Got 3 Replies<br>Central Excise<br>Respected Sir, One of my clients has taken excise registration recently now as he is paying duty on clearance of goods,but from 01-04-14 he wants to take the benefit of 1.5 crore exemption limit can he take ....
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....if yes what is the procedure let me know please. Reply By Pradeep Khatri: The Reply: Dear Mehul, You may avail this facility, if you are registered as SSI Unit or dealing in goods reserved for SSI units or the amount invested by you does not crossed the threshold limit as mentioned in the definition of SSI units. Further, also refer the SSI Notifications, clarifications and circulars as issued....
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.... by the Central Excise Department from time to time. Regards, Team YAGAY & SUN (Indirect Tax Consultants) Reply By Rajagopalan Ranganathan: The Reply: Sir, If you want to pay duty on the excisable goods though it is eligible to avail SSI exemption under Notification No. 8/2003-CE dated 01.03.2003 as amended, then you have to intimate your intention to pay duty on the excisable goods cleared....
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.... by you as per para 2 (I) of the said notification. This option cannot be withdrawn during the remaining part of the financial year. From 01.04.2014 you can intimate your range officer that you are going to avail the SSI exemption for the first clearance of 1.5.crores. Reply By MEHUL ASHAR: The Reply: Respected Sir, Thank u Sir, u guided me well in this matter, u r great help to me. THANKING ....
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