about the exemption of 1.5 crore 4 ssi units

[MEHUL ASHAR]

Respected Sir,

As regarding above subject, is there any change made in the exemption limit of 1.5 crore for ssi units in the budget-2015-16 dated 28-02-15 or not.

Please reply.

AI Summary

No Change in SSI Exemption Limit in 2015-16; CENVAT Credit Requires Excise Registration Despite Low Turnover A discussion on a forum addressed the exemption limit for Small Scale Industries (SSI) under Central Excise, specifically whether the 1.5 crore limit changed in the 2015-16 budget. Respondents confirmed no changes were made. A participant inquired about availing CENVAT credit for a company with a turnover below 30 lakhs, questioning the need for excise registration to offset excise duty on inputs. It was clarified that to avail CENVAT credit, the company must opt out of the SSI exemption and register for central excise, even if the turnover is below the exemption threshold.