TaxTMI 
TaxTMI 
excise on garments
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....xcise on garments<br> Query (Issue) Started By: - satbir singh wahi Dated:- 5-3-2016 Last Reply Date:- 8-3-2016 Central Excise<br>Got 7 Replies<br>Central Excise<br>Sir Excise on garment unit Financial Year 2014-15 Domestic sale Rs. 190 Lacs other than export of 1600 Lacs- Total ₹ 1790 Lacs Financial Year 2015-16 Domestic sale Rs. 280 Lacs other than export of 1200 Lacs- Total Rs. 1480 La....
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....cs upto 29.02.16 Whether covered by excise ? Reply By Rajagopalan Ranganathan: The Reply: Sir, Only the following items falling under Chapter 57, 61, 62 and 63 are covered by SSI Notification: - 1. Chapter 57: -Carpets and textile floor coverings. 2. Chapter 61: - Articles of apparel and clothing accessories, knitted or crocheted. 3. Chapter 62: - Articles of apparel and clothing accessorie....
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....s, not knitted or crocheted. 4. Chapter 63: -Other made-up textile articles; sets; worn clothing and worn textile articles; rags. You first ascertain under which of the above mentioned chapters the goods manufactured by you would fall and then take a decision. Reply By satbir singh wahi: The Reply: Sir Covered by Chapter 61 and 62 Reply By Rajagopalan Ranganathan: The Reply: Sir, Under SSI....
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.... Notification No. 08/2003-CE dated 01.03.2003 excisable goods cleared for home consumption up to the value of ₹ 150 lakhs is chargeable to 'Nil' rate of duty. Beyond ₹ 150 lakhs and up to ₹ 400 lakhs duty at normal rate is chargeable. If total clearance for home consumption exceed Ra. 400 lakhs in the previous financial year, the normal duty is payable from the beginning ....
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....of the next financial year. For calculating the limits of ₹ 150 lakhs and ₹ 400 lakhs value export clearance need not be taken into account. If export is made to Bhutan it is to be included in the value of goods cleared for home consumption. Reply By satbir singh wahi: The Reply: Thks Sir But financial year 2014-15 Domestic sale 190 Lacs i.e. below 400 Lacs ​In financial Year....
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.... 2015-16 Domestic sale upto 29.02.2016 is Rs, 280 Lacs i.e. exceeding 150 Lacs So need to take registration from 01.03.2016 and pay duty on Goods having RSP above 1000 Reply By Rajagopalan Ranganathan: The Reply: Sir, For the Financial year 2014-15 you have to pay duty on ₹ 40 lakhs which is in excess of ₹ 150 lakhs at the rate of 12.5%. Roe the year 2015-16 you have pay duty @ 12....
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.....5% on 130 lakhs which is in excess of ₹ 150 lakhs. Export turnover need not be taken into account for calculating exemption limit of ₹ 150 lakhs or SSI exemption limit of ₹ 400 lakhs. But the export should be to all countries except Bhutan with effect from 1.3.2016 Reply By CA. Varun Arora: The Reply: Sir in your case i assume you are talking about branded readymade garments a....
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....s you are mentioning rsp word i.e. 1000 in this case if your turnover of f.y 2014 -15 is upto 400 lakhs in your case its not crossing 400 lakhs then you are eligible to take benefit of 08/2003 but in the month of march 2016 ssi exemption is restricted to 12.50 lakhs subject to condition that the turnover during financial year 2014-15 has not exceeded 4 crores please see notification 8/2003 as amen....
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....ded by 8/2016 dated 1st march 16 Reply By satbir singh wahi: The Reply: thks Varun Ji<br> Discussion Forum - Knowledge Sharing ....