Small-scale industry exemption revised with new clearance limits, exclusions, input-credit condition and option to waive exemption. The notification redefines the Small-Scale Industry exemption by substituting the Annexure to list eligible and excluded goods, revises clearance-value thresholds and aggregate caps for first and subsequent clearances, conditions concessional treatment on input or capital goods credit, excludes manufacturers exceeding prior-year clearance limits and certain registered factories, restricts exemption where goods bear another person's brand subject to specified carve-outs, and permits a manufacturer to opt out of the exemption and pay duty for all subsequent clearances in the financial year; explanatory provisions are amended and an effective commencement date is specified.
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Small-scale industry exemption revised with new clearance limits, exclusions, input-credit condition and option to waive exemption.
The notification redefines the Small-Scale Industry exemption by substituting the Annexure to list eligible and excluded goods, revises clearance-value thresholds and aggregate caps for first and subsequent clearances, conditions concessional treatment on input or capital goods credit, excludes manufacturers exceeding prior-year clearance limits and certain registered factories, restricts exemption where goods bear another person's brand subject to specified carve-outs, and permits a manufacturer to opt out of the exemption and pay duty for all subsequent clearances in the financial year; explanatory provisions are amended and an effective commencement date is specified.
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