27 November 2010
machinery purchased from manufachurer & paid excise duty on that machinery & now transfer that machinery one unit to onother unit. Is excise applicable on that transfer of machine? Please send answer with applicable rule of excise act.
27 November 2010
If cenvat credit was availed in the unit at the time of purchase, it has to be reversed proportionate to the usage.(Please refer Rule 3(5) of Cenvat Credit Rules. Further the balance excise duty shall be taken as credit in the transferee unit.
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