TMI BlogCalculation of 400 lakhs for readymade garmentsX X X X Extracts X X X X X X X X Extracts X X X X ..... Respected Sir, My Client is having turnover of ₹ 450lakhs in the previous year detail is as under :- 100 lakhs for unbranded garments having RSP Rs. 1000 ; 150 lakhs having RSP Rs. 1000/-; 100 lakhs having value is less than ₹ 1000 ; 100 lakhs branded and having value ₹ 1000 450 lakhs in the previous year Please explain how to calculate turnover of ͅ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 7; 400 Lakhs for previous year. - Reply By KASTURI SETHI - The Reply = Sh.Gulati Ji, Point-wise reply is as under:- (i) Not to be accounted for. (ii) To be accounted for (iii) Not to be accounted for (iv) To be accounted for You are eligible for the status of SSI on the basis of of your turnover in the preceding year. - Reply By dee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pak gulati - The Reply = Thank-you kasturi ji. If unbranded goods having RSP 1000 whether the same will also counted . Sir , please clarify for the current year, if last year's turnover is less than 400 lakhs 200 lakhs unbranded having RSP 1000 100 lakhs Having branded goods 1000 - Reply By KASTURI SETHI - The Reply = Sh.Gulati Ji, While computing the turnover of & ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... #8377; 400 lakhs, the value of fully exempted goods are to be included/accounted for. While computing turnover of ₹ 1.50 crores, the value of fully exempted goods are not to be included. Only branded ready-made garments which have RSP of ₹ 1000/- and above are liable to Central Excise duty. For March, 16, the benefit of ₹ 12.50 lakhs in respect of ready made garments has been g ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iven. If the value for March, 16 is more than ₹ 12.50 that will be counted towards ₹ 4 crore. - Reply By deepak gulati - The Reply = Thank you so much sir, i appreciate your views. Sir Please clarify, whether selling of unbranded products having RSP 1000 /- into branded packing cover is included while calculating the limit of 1.50 crore? - Reply By KASTURI SETHI - The Reply = ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Dear Sir, By packing in branded cover means you are using brand name/trade name. CE duty has to be paid as no exemption is available.Duty paid goods are to be excluded for arriving at ₹ 1.50 crores. - Reply By deepak gulati - The Reply = Thank you so much Kasturi Ji - Calculation of 400 lakhs for readymade garments - Query Started By: - deepak gulati Dated:- 13-6-20 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 16 Central Excise - Got 6 Replies - Central Excise - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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