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Sale of old machines

This query is : Resolved 
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(Querist)
22 November 2012 DEAR SIR

WE ARE PVT LTD CO. & WE ARE GOING TO SALE OLD MACHINES WHICH WE PURCHASED IN 1980, SO WHAT WILL BE THE METHODE OF SELLING THESE MACHINES, SHOULD WE SALE THESE MACHINE AS A SCRAP OR AS A OLD MACHINES,

1 IF WE SALE IT AS A OLD MACHINE HOW WE WILL SHOW IT IN OUR BALANCE SHEET, BECAUSE WE HAVE'NT PURCHASE BILL OF THESE MACHINES
AND WE DONT KNOW THE PURCHASE COST ALSO

2 SO HOW WE CALCULATE WDV & PROFFIT ON THIS MACHINES

3 WHAT WILL BE THE EXCISE TREAT MENT WHEN WE RAISED THE BILLS

THANKS & REGARDS


SO PLEASE GUIDE ME URGENTLY

PLEASE TREAT IT URGENT

THANKS & REGARDS
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@VaibhavJ

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@VaibhavJ (Expert)
22 November 2012 HI

Sale as a scrap since it already absolete n no Excise will be payable.

Thanks//Vaibhav

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