Central Excise is a duty on the manufacture or production of all excisable goods in India. Excisable goods refers to movable and marketable goods which are listed in the Schedules to the Central Excise Tariff Act. A process shall be treated as manufacture if – the process results in transformation, a new and different article emerges having a distinctive name, character or use. The Central Excise Act provides that every person engaged in manufacture or production of excisable goods shall get himself registered with the Central Excise department on failure to get registered person is liable for penalty. Registration under Central Excise must be made before the production of excisable goods or in the case of a dealer, before the issuance of CENVAT invoice.
An SSI Unit is a unit whose turnover in the preceding financial year is less than Rs.400 Lakhs. Such units have the option to avail full exemption from payment of duty up to turnover of Rs.150 Lakhs in the current financial year [Notification No.8/2003]. We are excise consultant in Pune.