Payment of excise duty under rule 3(5) of central excise

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RAMKUMAR (Querist)
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17 April 2013 sir

can any one clarify regarding consideration of quarters for calculation of excise duty on transfer of capital goods on sale/stock transfer.

caital goods received on 15.11.2012
credit availed on 25.11.2012
transfer of asset on 15.04.2013

in the above case can we consider 2 quarters ie, dec 12, March 13 or 3 quarters ie dec 12, march 13 + current quarter

thanks in advance

ramkumar ms

Anwar Khan

Anwar Khan (Expert)
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18 April 2013 1.if any capital goods removed in same year in which year recd .than you can claim 100% cenvat credit.

2.if any capital removed after 1 year you can claims 50 % in same year and rest in subsequent year .

in your case you have removed capital goods in same financila year you can claims 100% cenvat credit