Excise Exemption For Sale To EOU
Suppose someone had turnover of Rs 166 lakhs in 2012-13 and of Rs 444 lakhs in 2013-14, of this Rs 350 lakhs of goods cleared for the EOU unit. They had billed the material to the EOU and no other documents, except invoice, were given since they were not registered with the Excise. How can they get excise exemption for above sales to EOU?
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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. After the registration only you can claim the exemption and pay the duty accordingly.
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