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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 ..... Calculation of 400 lakhs for readymade garments X X X X Extracts X X X X X X X X Extracts X X X X ..... 0 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 ₹ 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) T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o be accounted for You are eligible for the status of SSI on the basis of of your turnover in the preceding year. Reply By deepak 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... branded goods > 1000 Reply By KASTURI SETHI: The Reply: Sh.Gulati Ji, While computing the turnover of ₹ 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 E ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... xcise duty. For March, 16, the benefit of ₹ 12.50 lakhs in respect of ready made garments has been given. 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 co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ver is included while calculating the limit of 1.50 crore?
Reply By KASTURI SETHI:
The Reply:
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 X X X X Extracts X X X X X X X X Extracts X X X X ..... e Sharing ..... X X X X Extracts X X X X X X X X Extracts X X X X
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