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.

AI Summary

Clarification Needed on Turnover Calculation for Duty Exemption Under Notification 08/2003: Items to Include Below Rs. 4 Crore Limit A client is nearing a turnover of Rs. 4 crore and previously benefited from a turnover limit of Rs. 1.5 crore under notification 08/2003, which exempts duty up to this amount. If the turnover exceeds Rs. 4 crore, the client cannot avail of this benefit in the next financial year. However, if it remains below Rs. 4 crore, the benefit can be availed again. There are certain clearances that should not be included in the Rs. 4 crore turnover calculation. Clarification is sought on what items should be included in this turnover calculation.