How to get excise exemption for regarding some sale to EOU?
We had turnover of Rs 166 lakhs in 2012-13. We had turnover of Rs 444 lakhs in 2013-14, of this Rs 350 lakhs of goods was cleared for the EOU unit.
We had billed the material to the EOU and no other documents, except invoice, were given since we were not registered with the Excise. How can we get excise exemption for above sales to EOU?
The turnover to claim the exemption is 150 Lakhs. As you have exceeded your limit, it is advised that you should get yourself registered under the Central Excise Act.
As the turnover is more than the limit prescribed, Central Excise registration is mandatory. This is a mandatory clause for any operating unit that exceeds the prescribed limit of turnover.
After the registration, only you can claim the exemption and pay the duty accordingly.
- Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at LawRato.com and has been responded by one of the Customs & Central Excise Lawyers at LawRato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at LawRato.com or book a Detailed Consultation with a Lawyer of your choice to address your query in detail.
Get Started >>
Answers by Our Lawyers
- will wife have right to stay in husband house after divorce is filed?
- Ancestral property taken by father and compensation given to sisters.
- Friend Not Repaying amount
- Can Landlord retain the advance paid towards Rent by Tenant
- Can police enter without search warrrant and sieze things in the house