about 10lacs exemption for Wedding cards

[Surya Moorthy]

Sir,

    In a firm, if wedding card attracts duty from March 2011' then upto 1/12th of 150lacs will be allowed as exemption or 10Lacs? but our turnover has been exceeded 150lacs prior to feb.2011'. And i also noted that our goods have no any duty upto feb 2011' .

AI Summary

Clarification sought on duty for wedding cards from March 2011; potential fresh exemption under notification 8/2003 SSI exemptions. A query was raised regarding the applicability of duty on wedding cards starting March 2011 and whether the exemption limit is 1/12th of 150 lakhs or 10 lakhs, given that the firm's turnover exceeded 150 lakhs before February 2011 and no duty was applicable until then. The response indicated that due to the lack of changes in notification 8/2003, there might be a possibility of availing a fresh exemption of 1.5 crores for March 2011 under SSI exemptions.