ssi limit applicable

[Girija Jha]

while calculating the s s i exemption limit of rs.4.00 crore,but we made credit note of rs.14.00lacs( sales return)but sales pertaining to 2010-11, however can we take sales turnover up to 3.99 crore ?.

AI Summary

Inquiry on SSI exemption limit: Sales returns can't reduce previous year's turnover for eligibility under Notification 8/2003 CE. An individual inquired about calculating the SSI exemption limit concerning a sales return of Rs. 14.00 lakhs from 2010-11, questioning if their sales turnover could be considered at Rs. 3.99 crore. A respondent clarified that under Central Excise notification no. 8/2003 CE, dated 1-3-2003, there is no provision to deduct the value of sales returns from the previous year's turnover when determining eligibility for SSI exemption for the current year.