ssi exemption

[siby jose]

sir,

we plywood manufacturing firm, first time in 2011-2012 crossed the turnover of Rs.4 Crore for local consumption. Now In 2012-2013 we are paying the duty from 1st April 2012. We proposed to limit the turnover below 4crore in 2012-2013. can we avail SSI Exemption in 2013-2014.

Regarding this matter we discussed with our Central Excise Range office, They says that if once Crossed 4Crore Turnover Once, Should pay duty from 1st april in every financial year in future. Pls inform the rules or notification no for the SSI Exemption.

Thanking You

SIBY

AI Summary

Plywood Firm Can Reclaim SSI Exemption in 2013-2014 if 2012-2013 Turnover Stays Below Rs. 4 Crore Under Notification 8/2003 A plywood manufacturing firm exceeded a turnover of Rs. 4 crore in 2011-2012 and began paying duty from April 1, 2012. They inquired about availing SSI exemption for 2013-2014 if they limited turnover below Rs. 4 crore in 2012-2013. Responses indicated that once the Rs. 4 crore threshold is crossed, the SSI benefit is lost, requiring duty payment from April 1 each year. However, if turnover remains below Rs. 4 crore in 2012-2013, they could avail exemption in 2013-2014 under notification 8/2003. A hypothetical scenario was also discussed regarding strategic turnover management for tax benefits.