Excise duty on sale of plant & machinery
This query is : Resolved
CA SHASHI KUMAR CG
(Querist)
27 February 2013
Dear Experts,
My client is selling old plant & machinery which was bought in 1980 and new P & M bought in the recent years. My doubt is whether Excise duty is attracted on these two sales. If yes on what amount?
Its urgent please reply at the earliest
Thanking you.
Regards,
CA SHASHI KUMAR C G
My client is selling old plant & machinery which was bought in 1980 and new P & M bought in the recent years. My doubt is whether Excise duty is attracted on these two sales. If yes on what amount?
Its urgent please reply at the earliest
Thanking you.
Regards,
CA SHASHI KUMAR C G
CA RICHA BADALIA
(Expert)
27 February 2013
Read rule 3(5A)of the Cenvat credit rules,2004.
This will help you!!
This will help you!!
CA SHASHI KUMAR CG
(Querist)
27 February 2013
Hi Richa,
There is a Machinery which was bought in 1980's on which input was not availed and utilised since capital goods were not eligible to claim input. In this case do we need to pay excise duty on transaction value or not.
There is a Machinery which was bought in 1980's on which input was not availed and utilised since capital goods were not eligible to claim input. In this case do we need to pay excise duty on transaction value or not.
CA RICHA BADALIA
(Expert)
27 February 2013
Then you are not liable to pay excise duty.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
