Introduction on Exemption Based on Value of Clearances (SSI) :

Small Scale Units (SSI) are given relief under the Central Excise Law by way of exemption notification. Notification No. 8/2003 dated 01.03.2003 provides an exemption upto the turnover of ` 150 lakh whose turnover was less than ` 400 lakh in the preceding financial year. The manufacturer availing the exemption under the said notification has to satisfy certain conditions for availing the benefit and the goods manufactured should be covered under this notification. This is a beneficial notification where all entrepreneurs irrespective of their investment are eligible to avail the benefit.