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TMI BlogSSI CENTRAL EXCISE EXEMPTION - REGX X X X Extracts X X X X X X X X Extracts X X X X ..... Dear all, we are manfacturer of paints and supply 100% to one of the major company. Some times we bought RM from that major company on payment of excise duty for production. Most of the matl we bought outside and produce. our annul turnover is less than 1.5 cr. Whether we can avail SSI Exemption from Central Excise? Whether we have to register with central excise dept to get exemption from B ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ED in invoice OR we can raise invoice as such without making ED and only slaes tax in invoice without informaing Central Excise dept. Pl give ur views Thanks in advance While invoicing to that major co. we used to raise BED 14% - Reply By Rajagopalan Ranganathan - The Reply = Sir, From the facts narrated by you, in my opinion, you are an independent manufacturer. Therefore you are eligible ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to avail small scale exemption. You have to register yourself with the department when your turnover exceeds the limit of ₹ 1.35 crores, that is, 90 % of 1.5 Crores. You can raise an invoice charging only VAT and not Excise duty. If you are a new manufacturer then you have to file a declaration stating that your turnover is not likely to exceed the limit of 1.5. Crores during current finan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cial year. - Reply By Mahir S - The Reply = Sir, You can avail SSI exemption from Central Excise. However, you have also mentioned that you are raising invoices by charging BED 14 %. In that case, the question of availment of SSI exemption does not arise if you are paying duty. However, if you avail cenvat credit then u pay duty at time of clearance of finished goods, Or else if the finished ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... goods are cleared under BRAND NAME. - Reply By YAGAY AND SUN - The Reply = You can get the SSI Registration if you duly fall under the criteria of SSI units otherwise not. - Reply By ashish chaudhary - The Reply = Though you may claim SSI exemption but decision making should be based on customer and vendor profile. If you customers are eligible to take the credit and raw material used in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... production process is duty paid, it is suggested to get registered under excise, take credit of duty charged by your vendor, charge excise duty on clearance and let the customer take the credit. This exercise could save 4-8% of the cost (depending upon the duty paid component in raw material and percentage of margin) of the product. - Reply By varun arora - The Reply = Rajagopalan Sir you menti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on that Assessee has to get registered with the deptt. when turnover exceeds the limit of 1.35 crores i.e. 90% of 1.5 crores. Will you please refer the same because i remember Intimiation limit is of 90 lakhs. And further If i am a new mfrer then do i file the declaration mandatorily to the deptt you have mentioned, if yes then what will be the format sir. - SSI CENTRAL EXCISE EXEMPTION - REG ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - Query Started By: - venkat eswaran Dated:- 16-10-2015 Central Excise - Got 5 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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