Dear Members
change of ownership due to sale of factory with assets and / capital goods, in such case do we need to pay excise duty ?
Regard
kaustubh
Arun Kumar Singh
(GST Advocate)
(15220 Points)
Replied 31 July 2015
If the ownership has been changed then you need to take new registration of central excise and all the assets and liability will be transfer in the name of new unit. The SSI exemption will be available to new unit upto 1.5cr turnover.
kaustubh
(Others)
(29 Points)
Replied 01 August 2015
Dear Arun
thanks for the reply, i would like to know whether Excise department will be asking for calculation of cenvat duty on the sale of assets, capital goods. As we have purchased the factory with all the assets and nothing is moved out of the premises.
Regards
kaustubh
Live Course on Invoice Management System (IMS) - 2nd Batch(With Recording)
CAclubindia
