about turnover limit

[MEHUL ASHAR]

Respected Sir,

                          One of my clients is about to cross the turnover of Rs.4 crore, till previous financial year he was availing the benefit of the turnover limit of Rs.1.5 crore then if his turnover remains below Rs. 4 crore then he becomes excisable unit permanently from 01-04-12 or he can avail the benefit the noti. no.08/2003 according to which the duty is exempted upto Rs.1.5 crore.

[rajkumar shukla]

If turnover of exisable+exempted goods exeeds 4 crores in this financial year, your client will not be able to avail benefit of notfn 8/2003 in coming financial year.If again it remains below 4 crores in coming financial year, he willagain be able to avail notification, no. 8/2003 in next financial year.

 

[Mahir S]

Yes, agreed.  But there are certain clearance whcih are not to be counted and are required to be deducted while arriving at the turnover LImit of Rs. 4 crores.

[KRISHNASWAMY NAGARAJAN]

Can any one specify what are the items to be counted for 4 crores turnover? We have, in our line of business, excisable goods, traded goods and labour (AMC and Software) turnovers.

N Krishnaswamy

AI Summary

Turnover threshold affects exemption eligibility; crossing it suspends notification benefit until turnover falls below threshold.
If aggregate turnover of excisable and exempted goods exceeds the statutory threshold in a financial year, the unit will not be eligible for notification no. 08/2003 in the next year; eligibility may be restored if turnover later falls below the threshold. Turnover computation generally aggregates excisable and exempted goods receipts, though specified clearances are deductible. Mixed-activity receipts (manufacture, trading, services such as AMC and software/labour) must be examined to determine inclusion in the threshold calculation.