Excise on Capital Goods
This query is : Resolved
15 June 2009
We purchased a Machinery for production of our products and we have taken 50% Cenvat that F.Y.after installation. We used machinery 1 years for production of our goods. Now we want to sale or transfer this machine as a workable condition to our branch. So, will we have to pay excise duty for this ? If yes which value ,is it on selling price or equal to cenvat credit taken?
17 June 2009
First avail the balacne credit of 50%.
Next retian credit @ 2.5% for every quarter and the balcne requires tobe reversed.
Next retian credit @ 2.5% for every quarter and the balcne requires tobe reversed.
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