deepak pralhad saraswat (clerk) (25 Points)
27 May 2011dear experts
suppose x company sells a capital asset t.e machinery after using for 5 yeras . then does the company have to reverse credit under section 3(5) of cenvat credit rules or 3(5) b
how to calculate the amount of cenvat duty to be reversesd/
and most importantly company is exporting the machine to other country
now can it avail the facility on the basis of export sale of not reversing the credit
company is selling machinery undr form h
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 27 May 2011
1) you can export the capital goods under bond, without touching the cenvat credit part.
2) you can bring the capital goods under stock in hand by transfering the capital goods to stock and so the cenvat credit also , then export the goods under bond / rebate of duty
in both the cases ARE1 procedure must be maintained mere form H will not work with duty credit enjoyment.
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