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Exempted and dutiable goods

Central Excise - Started By: - varun arora - Dated:- 8-3-2016 Last Replied Date:- 12-3-2016 - Dear expertsIf one of client manufactures exempted goods and value is rs 8 crores and now he want to manufactures dutiable goods then benefit of 150 lakhs is available on dutiable goods or not means for the purpose of calculation of turnover of 150 lakhs whether clearances of exempted goods shall be clubbed or notThanks in advance. - Reply By CS SANJAY MALHOTRA - The Reply = No, he can;'t be classif .....

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Please read the Notification as 08/2003.... - Reply By KASTURI SETHI - The Reply = I endorse the views of Sh.CS Sanjay Malhotra, Sir. If a manufacturer makes clearances of more than 4 crores in its first year of the commencement of production, he is eligible for SSI exemption of ₹ 1.50 crore. - Reply By Mahir S - The Reply = Sir,It may be noted that while computing the limit of ₹ 400 Lakh, the turnover of goods exempted under any other notification (except clearances to FTZ, SEZ, 10 .....

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and thereafter confirm yourself if the SSI benefit in this case shall be available to you or not. - Reply By KASTURI SETHI - The Reply = Re-examined. Agreed fully with the replies of Sh.Mahir S, Sir and Sh.CS Sanjay Malhotra, Sir regarding computation of Rs.four hundred lakhs for eligibility as SSI unit in central Excise.Thanks to both experts. - Reply By Mahir S - The Reply = - Reply By KASTURI SETHI - The Reply = Sh.C.S.Sanjay Malhotra Ji, Sir, There is some snag in the software of TMI so I co .....

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of ₹ 1.50 crore on the ground that his turnover of excisable goods was NIL during the preceding year (2014-15). (Emphasis supplied on Para 2(vii) of Notification No.8/2003-CE). 2. When will he lose the status of SSI for Central Excise purpose? Since the manufacturer crosses turnover of ₹ 4 crores on 12.3.16, he will be no more SSI unit from 12.3.16 onwards. Since his turnover during the preceding year was NIL, so his status of SSI unit will remain intact up to 11.3.2016 and thus he w .....

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tatutory background to your view points.Assessee should be meet the criteria of SSI Eligibility initially in terms of Investment in P&M to be eligible for SSI Exemption under Notf 08/2003 of Central Excise. Unit is eligible for SSI Exemption upto First Turnover of ₹ 150 Lacs in the current year even if he has started Manufacturing operations from April 1 of the current F.Y. (Exemption is based on turnover of Previous Year). - This is similar to the concept in Service Tax, wherein Tax l .....

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