Intimation_Excise for SSI

[varun arora]

Dear Experts,

After taking registration under Central Excise Assessee needs to intimate Juridictional Range online with estimated quantity and estimated value for availing exemption 08/2003 i.e. value based exemption

But If assessee wants to take benefit of 1.5 cr(SSI) again in next year then in this case whether assesse needs to intimate in next financial year online or we can say in each financial year.

Thanks in advance.

[KASTURI SETHI]

In each financial year. I hope you are aware that turnover of preceding financial year is to be taken into account for determination of eligibility as SSI unit for exemption from Central Excise duty under not.8/2003- CE.

[Ganeshan Kalyani]

If turnover is within the threshold limit then no need to get registration under central excise. And if taken then no need to separately intimate the department regarding the same.

[Himansu Sekhar]

The registration is essential because they will have to retain the capital goods credit. If the registration is surrendered, then the balance capital goods credit (input credit lapses on availing ssi exemption) may not be retained. That's why people want to continue with the regn.

AI Summary

SSI exemption compliance: annual intimation and turnover-based eligibility required to claim value-based excise relief.
Eligibility for the value-based excise exemption under Notification 08/2003 is determined by the preceding financial year's turnover and should be reassessed each financial year. One position advises annual intimation of the jurisdictional range with estimated quantity and value to claim the exemption, while another notes that if turnover falls within the threshold registration and separate intimation may be unnecessary. Continuing registration is also relevant to retain capital goods credit that may lapse on surrender.