Excise duty on sale of old machinery

This query is : Resolved

Amit (Querist)
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29 July 2013 Our company has purchased machinery (whole plant) in lumpsum from another company through agreement 3 years ago. we did not take any input credit on such machine.

Now, we are selling these machines. Do we need to charge excise duty on such invoice. Or will there be any reversal of excise duty.

Guide me about VAT also- factory located in Andhra state.

Thanks in advance.

RENGARAJ R.K

RENGARAJ R.K (Expert)
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29 July 2013 IF YOU HAVE NOT AVAILED CENVAT, THERE IS NO NEED TO REVERSE.

REGARDING VAT, DID YOU TO AVAIL VAT INPUT TAX CREDIT ON CAPITAL GOODS- FOR THIS MACHINERY?

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Amit

Amit (Querist)
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29 July 2013 Sir, Thanks for guidance.

regarding VAT, we did not take vat input credit.

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