17 August 2014
if a co. purchased capital goods on 23.05.2009 , say Rs. 500000 & ex.duty is 83000. for unit-1. Now, Unit 1 is closed on december 2012 and they have transferred the same capital goods on 15.12.2013. in depreciated value with prevailing exduty rate. My question is: 1) is it correct procedure? ? 2) if not, how can it be done? ??
18 August 2014
Depreciation of the duty at the rate of 2.5% per quarter and clreared the goods after payment of duty at the time of clrearing of goods.
22 August 2014
earlier it is right as tell by the Mr arun.
but after amendment is that your liability of excise duty if you make at current rate of excise duty on sale price is excess from the excise amount as said by Mr. arun then you have to pay the excess excise duty.
CAclubindia
