Centre to increase the SSI eligibility limit and exemption limit

Q.  Centre has taken the decision to increase SSI eligibility limit for manufacturers of articles of jewellery from INR 12 crore to what amount?
- Published on 15 Jul 16

a. INR 13 crore
b. INR 14 crore
c. INR 15 crore
d. INR 16 crore

ANSWER: INR 15 crore
 
Centre will increase the small scale industry eligibility limit for manufacturers of jewellery articles from INR 12 crore to INR 15 crore and raised SSI exemption limit from INR 6-10 crore in a financial year.
  • Requirements will also be simplified for maintenance of records and other compliance procedures for the nominal excise duty of 1 percent (without input and capital goods credit) or 12.5 percent (with input tax credit) on jewellery articles imposed in the Budget this year.
  • These include no requirement to submit any ground plan of the premises for the purpose of excise registration.
  • For the upcoming festive season, government has increased SSI eligibility to help jewellers tide over difficult periods.

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