applicability of Excise duty on sale of Business
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 January 2010
Sir,
I am finance excutive in one of the manfacturing company which intends to sale its part of business at book values.
(Fixed assets, Debtors, creditors, inventory etc.)
I would like to know whether it has any excise duty impact on any of selling and purchasing company on this transaction.
I am finance excutive in one of the manfacturing company which intends to sale its part of business at book values.
(Fixed assets, Debtors, creditors, inventory etc.)
I would like to know whether it has any excise duty impact on any of selling and purchasing company on this transaction.
22 January 2010
Fixed assets on which credit has been availed would have to be removed on depreciated values ( 2.5% per quarter allowed to be retained) Say 4 years back goods bought - then credit of 40% can be retained.
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