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TMI BlogSSI limit applicableX X X X Extracts X X X X X X X X Extracts X X X X ..... SSI limit applicable X X X X Extracts X X X X X X X X Extracts X X X X ..... 2011' for their goods @1% of eligible turnover (after adjusting SSI limit) but its total turnover at the end of the FY 2010-11 would be less than Rs.4 Crores then whether it is necessary to levy duty ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... from 1st april 2011' or after acheiving the SSI Limit of 1.5 crores for FY 2011-12? Reply By Seetharaman K C: The Reply: If the taxable turnover of the firm for the preseding financial year exceed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s 4 crores limit then the SSI exemption of 1.5 crores would not be available to the firm for the current financial year and the firm needs to pay excise duty on all the taxable turnover during the cur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rent financial year. In ths instant case you have mentioned that the total taxable turnover for FY 2010-11 does not exceed 4 crores hence the SSI exemption limit of 1.5 crores would be available for t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he firm for FY 2011-12. The firm needs to pay excise duty only on the turnover in excess of 1.5 crores for the current financial year.
Reply By Surya Moorthy:
The Reply:
Thank you for reply Sir. X X X X Extracts X X X X X X X X Extracts X X X X ..... Discussion Forum - Knowledge Sharing ..... X X X X Extracts X X X X X X X X Extracts X X X X
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