Exemption of turnover limit

[MEHUL ASHAR]

Respected Sir,

As regarding above subject, one of my clients is taking the benefit of ssi exemption under noti.no. 08/2003 regarding about the turnover limit of 1.5 crore & as u know that the FM has announced budget 2016-17, so regarding budget is there any change in turnover limit of ssi exemption or not.Please reply.

THANKING U

[Rajagopalan Ranganathan]

Sir,

No change in exemption limit of 150 lakhs under SSI Notification 8/2003-CE dated 1.3.2003 as amended has been proposed in Budget 2016.

[Ganeshan Kalyani]

Yes there is no change in the threshold limit of 1.5Cr for SSI exemption.

[MEHUL ASHAR]

THANK U FOR UR REPLY SIR.

[Mahir S]

No change as explained above

AI Summary

SSI turnover threshold unchanged after Budget, permitting continued exemption under existing SSI notification and rules. The Budget for 2016-17 proposed no alteration to the existing turnover threshold for SSI exemption under Notification No. 8/2003-CE as amended; eligible small scale industrial units should continue to apply the current threshold and notification provisions.