taking benefit of exemption limit of 1.5 crore

[MEHUL ASHAR]

Respected Sir,

                         One of my clients has taken excise registration recently now as he is paying duty on clearance of goods,but from 01-04-14 he wants to take the benefit of 1.5 crore exemption limit can he take if yes what is the procedure let me know please.

AI Summary

Client Seeks Excise Duty Exemption; Must Register as SSI Unit and Comply with Notification No. 8/2003-CE Requirements. A client who recently registered for excise duty seeks to benefit from the 1.5 crore exemption limit starting 01-04-14. An expert advises that the client can avail this benefit if registered as an SSI Unit or dealing in goods reserved for SSI units, without exceeding the investment threshold. The client is also advised to refer to relevant SSI Notifications and circulars. Another expert suggests that if the client opts to pay duty on excisable goods, they must notify their intention as per Notification No. 8/2003-CE, and this choice cannot be changed within the financial year.