TaxTMI 
TaxTMI 
SSI limit applicable
X X X X Extracts X X X X
X X X X Extracts X X X X
....SI limit applicable<br> Query (Issue) Started By: - Surya Moorthy Dated:- 18-3-2011 Last Reply Date:- 18-3-2011 Central Excise<br>Got 2 Replies<br>Central Excise<br>If a firm has levy duty from March ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....2011' for their goods @1% of eligible turnover (after adjusting SSI limit) but its total turnover at the end of the FY 2010-11 would be less than Rs.4 Crores then whether it is necessary to levy duty ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....from 1st april 2011' or after acheiving the SSI Limit of 1.5 crores for FY 2011-12? Reply By Seetharaman K C: The Reply: If the taxable turnover of the firm for the preseding financial year exceeds....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... 4 crores limit then the SSI exemption of 1.5 crores would not be available to the firm for the current financial year and the firm needs to pay excise duty on all the taxable turnover during the curr....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ent financial year. In ths instant case you have mentioned that the total taxable turnover for FY 2010-11 does not exceed 4 crores hence the SSI exemption limit of 1.5 crores would be available for th....
X X X X Extracts X X X X
X X X X Extracts X X X X
....e firm for FY 2011-12. The firm needs to pay excise duty only on the turnover in excess of 1.5 crores for the current financial year. Reply By Surya Moorthy: The Reply: Thank you for reply Sir.<br> ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....Discussion Forum - Knowledge Sharing ....