excise duty amount

This query is : Resolved

RAM SAINI (Querist)
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14 October 2009 we have purchase a capital goods in 2001
now we want to sell it or want to transfer it to our another plant

pls advice wht amount of duty we have to dabit
1 on the amount which come after depreciation

or

the duty amount which we credit at the time of the purchse of the capital good

pls advice

thanks & rgds

RK SAINI

Deepak Agrawal

Deepak Agrawal (Expert)
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14 October 2009 If the capital goods, on which CENVAT Credit has been taken, are removed after being used, the manufacturer or provider of output service shall pay an amount equal to the CENVAT Credit taken on the said capital goods reduced by 2.5 per cent for each quarter of a year or part thereof from the date of taking the Cenvat Credit;â€.

Refer rule 3(5) in the link.

http://www.cbec.gov.in/excise/new-cenvat-rules.htm