TaxTMI 
TaxTMI 
Calculation of 400 lakhs for readymade garments
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....alculation of 400 lakhs for readymade garments<br> Query (Issue) Started By: - deepak gulati Dated:- 13-6-2016 Last Reply Date:- 15-6-2016 Central Excise<br>Got 6 Replies<br>Central Excise<br>Respected Sir, My Client is having turnover of ₹ 450lakhs in the previous year detail is as under :- 100 lakhs for unbranded garments having RSP < Rs. 1000 ; 150 lakhs having RSP >Rs. 1000/-; 100....
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.... lakhs having value is less than ₹ 1000 ; 100 lakhs branded and having value > ₹ 1000 450 lakhs in the previous year Please explain how to calculate turnover of ₹ 400 Lakhs for previous year. Reply By KASTURI SETHI: The Reply: Sh.Gulati Ji, Point-wise reply is as under:- (i) Not to be accounted for. (ii) To be accounted for (iii) Not to be accounted for (iv) To....
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.... be accounted for You are eligible for the status of SSI on the basis of of your turnover in the preceding year. Reply By deepak gulati: The Reply: Thank-you kasturi ji. If unbranded goods having RSP> 1000 whether the same will also counted . Sir , please clarify for the current year, if last year's turnover is less than 400 lakhs 200 lakhs unbranded having RSP > 1000 100 lakhs Having ....
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....branded goods > 1000 Reply By KASTURI SETHI: The Reply: Sh.Gulati Ji, While computing the turnover of ₹ 400 lakhs, the value of fully exempted goods are to be included/accounted for. While computing turnover of ₹ 1.50 crores, the value of fully exempted goods are not to be included. Only branded ready-made garments which have RSP of ₹ 1000/- and above are liable to Central Ex....
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....cise duty. For March, 16, the benefit of ₹ 12.50 lakhs in respect of ready made garments has been given. If the value for March, 16 is more than ₹ 12.50 that will be counted towards ₹ 4 crore. Reply By deepak gulati: The Reply: Thank you so much sir, i appreciate your views. Sir Please clarify, whether selling of unbranded products having RSP >1000 /- into branded packing cov....
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....er is included while calculating the limit of 1.50 crore? Reply By KASTURI SETHI: The Reply: Dear Sir, By packing in branded cover means you are using brand name/trade name. CE duty has to be paid as no exemption is available.Duty paid goods are to be excluded for arriving at ₹ 1.50 crores. Reply By deepak gulati: The Reply: Thank you so much Kasturi Ji<br> Discussion Forum - Knowledge....
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