Issue regarding sale of used capital goods.

kumar hattanna (Officer - Excise) (525 Points)

17 October 2014  

Dear CA members

Issue regarding sale of used capital goods.

We have purchase the capital goods on 13.05.2013 for Rs.136000, and we have paid the Duty amount of Rs.16809.60 by 12% 2% and 1% respectively.

Now management has decided to sale this machinery to Rs.48000,

Please help to calculate the duty amount.

Note: We have availd and utilized the duty 50% in the year of purchase and remaining 50% in subsequent year.

Regards