Small Scale Industry Exemption Under Central Excise

Under the regulations of the Central Excise Act, a Small Scale Industry is one whose aggregate value of Turnover does not go beyond Rs.150 Lakhs made on or after the 1st day of April in any financial year. During 1st March 2003, the government had given an exemption notification for the small scale industry (SSI) under the central excise law. It intends to provide few relaxations towards small scale industries. As per this notification, an incentive is offered to SSI for the development of the economy, even though exemptions to small scale industries cannot be applied to every one of the products and the benefits are restricted.