28 September 2016
One machinery purchased on 08.10.2015. cenvat utilized 50% on november 2015 and balance 50% utilized on april this year.
Now this machinery transferred to our branch . What is the procedures of central excise ? this cenvat credit is reversed or not ?
29 September 2016
Thanks sir .
But cenvat credit reversed fully or partly ?
if filing any statutory forms under excise for transfer capital goods to our branch within same district ?
29 September 2016
Cenvat Credit originally taken on the capital goods is reduced by 2.5% for each quarter of a year or part there of from the date of taking the cenvat credit.
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