Enhance Excise and service Tax Exemption limits – Budget wish list
The Federation of Association of Small Industries of India ( FASII ) has demanded to raise the central excise exemption limit for small-scale industries to Rs 3 crore from the current limit of Rs 1.5 crore , during the pre-budget meeting called by Union Finance Minister Pranab Mukherjee in New Delhi.
The Federation has said that in view of the inflationary trend and the rigours of the service tax procedures, the exemption limit should be raised to Rs 20 lakhs .