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Cenvat credit

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(Querist)
03 October 2012 sir i want to know is the cenvat credit is reversed in case of capital goods is sold as scrap
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CA SHRINIVAS

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CA SHRINIVAS (Expert)
03 October 2012 If the capital assets removed as scrap from the factory on which the Cenvat credit of excise was utilised then the scrap value should be treated as transaction value and the Excise duty has to be paid accordingly.

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