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.
Madhukar N Hiregange
(Expert)
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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