Dear all,
we are manfacturer of paints and supply 100% to one of the major company. Some times we bought RM from that major company on payment of excise duty for production. Most of the matl we bought outside and produce.
our annul turnover is less than 1.5 cr. Whether we can avail SSI Exemption from Central Excise?
Whether we have to register with central excise dept to get exemption from BED in invoice OR we can raise invoice as such without making ED and only slaes tax in invoice without informaing Central Excise dept.
Pl give ur views
Thanks in advance
While invoicing to that major co. we used to raise BED 14%
Paint Manufacturer Explores SSI Exemption; Must Register if Turnover Exceeds 1.35 Crores for Excise Duty Compliance A manufacturer of paints, with an annual turnover under 1.5 crores, inquired about eligibility for Small Scale Industry (SSI) exemption from Central Excise. Responses indicated the manufacturer could avail SSI exemption, provided they register with the department if turnover exceeds 1.35 crores. They should invoice with only VAT, not excise duty, unless availing cenvat credit or selling under a brand name. It was suggested that if customers can claim credit and raw materials are duty-paid, registering for excise could be beneficial. Clarification was sought on registration thresholds and declaration requirements for new manufacturers. (AI Summary)
TaxTMI 
TaxTMI 
TaxTMI 
