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Q. > Please Help: taxability of excise duty on sumbersible pump
if a manufacturer of sumbersible pump whose turnover less than 150 lacs than also such item is taxable in excise act.
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Comments
CA VIPIN GARG
01-Sep-2011 , 11:31:21 amNo
Ashish Karundia
01-Sep-2011 , 12:35:00 pmDear Ashish, You have to understand that excitability and taxability are two different concepts. In the given case, if you are manufacturing submersible pipe which is excisable as per the provisions contained in Central Excise Act, 1944, then you are liable to discharge excise duty. However, you can avail the benefit of Notification No. 8/2003-CX dated 1st March, 2003 as amended from time to time for clearances upto Rs. 1.50 crores in the current financial year and are therefore not required to pay excise duty on clearances upto Rs. 1.50 crores provided that clearances during the previous financial year does not exceed Rs. 4.00 crores. Further, the manufacturer availing the benefit under this Notification is not eligible for CENVAT credit of the inputs used in the manufacture of submersible pipe.
PAWAN KUMAR
20-Sep-2011 , 12:43:11 pmDear sir, this item will not taxable if turnover related to previous year.
Chetan Agrawal
23-Sep-2011 , 12:57:39 amDear Ashish, i think that you are asking this exemption having regard to exemption notification no.8/2003-CX dated 1st March, 2003. this exemption notification provides that clearance upto Rs. 1.5 crore will exempt from excise duty if last year clearence does not exceeds rs 4 crore.( i am not going to define what all transactions will be considered to determinne current year clearence of Rs. 1.5 crore and previous year clearance of Rs. 4 crore. if you will ask then will provide seperatly.) This exemtion is based on the condition that credit of inputs used in the manufacture of the goods is not taken. story till now is already explained and is known to you. Now what i want to inform you is that such exemption is not available for all the excisable goods. this exemption is available only in respect of those goods which are specified in the said notification. To my knowledge, this pump is operated through electricity and is for handling water. such Sumbersible pumps are covered under Central Excise tariff heading 8413 and this triff heading is very well covered in this notification so exemption in respect of the pump is available. However, if such pump does not conform to standards specified by BIS (Bureau of Indian Standards)for such pumps, then such exemption will not be available. Therefore, in order to be eligible for the exemption, you should ensure that your product should meet the standards specified by BIS in respect of the pumps. Hope the above is suffice. in case of further clarification please let us know.