need of declaration.

[Guest]

If a new S.S.I. unit is enjoing  the benifit of exemption of 1.5 caror T.O. limit. Than when it is necessery to submit 'Declaration Form' to C.Excise department .

should it be filied every year.

AI Summary

When Must SSI Units Submit Declaration Form for Rs. 1.5 Crore Turnover Exemption? A query was raised regarding when a new small-scale industry (SSI) unit benefiting from the Rs. 1.5 crore turnover exemption limit must submit a 'Declaration Form' to the Central Excise department and whether it should be filed annually. The first response explained that SSI units with a turnover under Rs. 4 crore are eligible for concessions, with full exemption up to Rs. 150 lakhs if they do not avail CENVAT credit. If CENVAT credit is availed, normal duty applies. An SSI unit must declare its option to pay normal duty in writing. The second response clarified that a declaration is required at a turnover of Rs. 140 lakhs.