Excise Return Applicablity

[Rudrayani Shedjale]

Hello

i have a query. currently we were filing ER3 exsie returns. but in the f.y.2014-15 our local turnover has reached up to 4 crores. do we have to file the same kind of returns even now or we need to file ER1 returns?

please advise.

[Rajagopalan Ranganathan]

Sir,

Since you have crossed the limit of 4 Crore, you have to file E.R. 1 return every month on or before 10th day of the month following the month to which the return pertains.

[Rudrayani Shedjale]

Dear Sir

Many thanks for this information.

The local turnover(excluding export) has crossed the amount of 4 crore in the f.y. 2014-15.

according to previous form of return filing we need to file return for the Qtr Jan 2015 to March 2015.

shall we file the same i.e.ER3 return for Qtr-IV for f.y.2014-15 and start to file the ER1 return from April 2015??

will you please expedite?

[Rajagopalan Ranganathan]

Sir,

It depends on the date of crossing the limit of 4 Crores. Suppose you cross the limit during September, then you have to file monthly return for September in Form E.R. 1. For July and August you can file in Form E.R. 3 indicating in the remarks column that since you have crossed 4 Crores limit in September you are filing monthly return in Form E.R.1 from September onwards.

[Rudrayani Shedjale]

we have crossed the LOCAL turnover limit of 4 crores in the month of Jan 2015.

so now we have to pay any penalty? (there is no tax liability though)

[Mahir S]

You now need to file monthly returns from april 2015

[Rudrayani Shedjale]

ok. thanks a lot to both of you.

AI Summary

Switch to ER1 Returns Monthly After Exceeding 4 Crore Turnover Threshold in 2014-15 Fiscal Year A user inquired about the appropriate excise return form to file after their local turnover exceeded 4 crores in the fiscal year 2014-15. They were previously filing ER3 returns and sought advice on whether to switch to ER1 returns. An expert advised that upon crossing the 4 crore threshold, they should file ER1 returns monthly. It was clarified that if the turnover limit was exceeded in January 2015, ER1 returns should commence from that month. The user confirmed understanding and thanked the respondents for their guidance.