ssi limit applicable

[Asked by Guest]

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

SSI exemption eligibility cannot be reduced by sales returns when computing turnover for exemption purposes under the notification.
Sales returns and credit notes from a prior year are not deductible from previous-year turnover for determining SSI exemption eligibility; the governing notification contains no provision allowing reduction of past turnover by such returns when assessing entitlement to the SSI exemption.