22 January 2012
Respected Sir, if i take 50% credit amt.to Rs.10000, value of the machinery is 200000.00 & I sale machiney in the 2 months after receipt then we have to calculate duty on 50% taken or 100% of duty? and can we take remaining 50% credit on the sold machiney next year.
26 January 2012
in such case you are eligible to take balance 50% credit before clearance of such machines, and clear the goods on reversal of 100% duty credit availed,
CAclubindia
