applicability of Excise duty on sale of Business

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 January 2010 Sir,

I am finance excutive in one of the manfacturing company which intends to sale its part of business at book values.
(Fixed assets, Debtors, creditors, inventory etc.)
I would like to know whether it has any excise duty impact on any of selling and purchasing company on this transaction.

Madhukar N Hiregange

Madhukar N Hiregange (Expert)
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22 January 2010 Fixed assets on which credit has been availed would have to be removed on depreciated values ( 2.5% per quarter allowed to be retained) Say 4 years back goods bought - then credit of 40% can be retained.