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Exemption of excise duty to SME upto 1.5cr

Central Excise - Started By: - Vivek Agrawal - Dated:- 17-2-2016 Last Replied Date:- 18-2-2016 - HelloThis is regarding exemption of excise duty to small manufacturing unit till 1.5cr. I am small manufacturer. I am exempted of excise duty till 1.5cr. .....

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And I also do the job work of same item for other big companies. So question here is is this job work income will get count in turnover limit of 1.5cr. - Reply By Mahir S - The Reply = Vivek ji,The point wise reply to your query in simple words is a .....

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. lets when i cross 1.5cr I have stock of material of approx value 20 lacs. which includes excise duty of 2.25 lac excise duty (input). so at this time will i get this 2.25cr as input excise duty and what will be the procedure for the same. - Reply B .....

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he Reply = An SSI Unit is a unit whose turnover in the preceding financial year is less than ₹ 400 Lakhs. Such units have the option to avail full exemption from payment of duty upto turnover of ₹ 150 Lakhs in the current financial year.I .....

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m all factories of the manufacturer and from any factory by one or more manufacturers must be taken into account.However, once the turnover crosses the specified limit , i.e. ₹ 90 Lakhs, such units have to file the declaration to the Assistant .....

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; 150 Lakhs.After the turnover of ₹ 150 Lakhs, the SSI unit shall be liable to get registered and start discharging duty liability. At that point of time, CENVAT Credit of raw materials lying in stock must be ascertained and the SSI unit shall .....

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