about gaining exemption of 08/2003 in between of year

[MEHUL ASHAR]

Respected Sir,

As regarding above subject one of my clients wants to take new registration & wants to take the benefit of 1.5 crore exemption can he get in between of the year as he wants to apply for registration in october & units turnover till sep-2013 is Rs.70 lakhs.Can he get the benefit or not.

THANKING U

FROM:

MEHUL M ASHAR

 

 

[Surender Gupta]

Your query is not clear. Assuming that till sep-2013 he was working under exemption since in the query you have stated that he want to apply for registration in October, you may continue to avail the exemption even after getting registration till the turnover reaches Rs. 1.5 crores under  Notification, no. 8/2003 CE dated 1.3.2003 for the eligible specified goods.

AI Summary

Exemption under notification continued after mid year registration until prescribed turnover threshold is reached. Where a person operated under the exemption before obtaining registration, they may continue to avail the exemption under Notification no. 8/2003 CE after mid-year registration until cumulative turnover reaches the notification's prescribed ceiling for eligible specified goods.