change of turnover limit of central excise

[MEHUL ASHAR]

Respected Sir,

As regarding above subject, my query is that is there any change of turnover limit of SSI exemption as till 31-1-17 it was 1.5 crore then from 01-04-17 it will be 1.5 cr. or else.Please reply.

THANKING U

[Rajagopalan Ranganathan]

Sir,

The SSI limit is 1.5 crores for each financial Year provided the turnover during previous financial Year does not exceed ₹ 4 crores. If it exceeds 4 crores in the previous financial Year the you have to pay duty from 1st April.

[YAGAY andSUN]

There is no change in existing practices and in SSI Provisions.

[Ganeshan Kalyani]

Yes there is no change in the SSI exemption limit.

[Mahir S]

There is no change in the SSI exemption limit and it shall be the same even from 01.04.2017 onwards..

Mr. Mehulji , I have marked that on every budget day you always ask this particular question on SSI exemption limit. .I appreciate your concern..

[Ganeshan Kalyani]

Sri Mahir S Ji good observation.

[KASTURI SETHI]

A razor sharp memory possessed by Sh.Mahir S. Expert. Appreciable indeed.

[MEHUL ASHAR]

RESPECTED SIRS, THANK U 4 UR REPLIES.

AI Summary

SSI exemption limit remains unchanged; eligibility depends on prior-year turnover threshold, otherwise duty payable from fiscal year start. The SSI exemption limit for central excise remains subject to the prior year turnover condition: an SSI is exempt for a financial year only if its turnover in the previous financial year does not exceed the prescribed upper threshold; if the prior year turnover exceeds that threshold the SSI must pay duty from the start of the next financial year.