Asset transfer - cenvat credit rules - excisability.

P.Shankarvarma (Chartered Accountant) (62 Points)

24 September 2014  

Dear Members,

Kindly clarify,

If the asset (Capital Good) which has been used for more than 10 years and having WDV value, transferring from Andhra Pradesh Plant to Karnataka plant;

how the rule 3(5A) of CENVAT credit rules applies to this transfer? whether am I require to pay excise duty? If yes under which provison? wat will be my transactional value, because I transferred the same at WDV Value.

Note : Company not registered under LTU provisions of the excise act.

Thank you