asset transfer

This query is : Resolved 

26 April 2010 if there is transfer of all capital assets from UNIT I to UNIT II WILL it attract excise duty


27 April 2010 yES, IN CASE OF ASSET TRANSFER, EXCISE DUTY WILL BE ATTRACT. EXCISE DUTY CHARGED BY UNIT I WILL BE AVAILED BY UNIT II.
IN CASE OF ASSET TRANSFER WITHIN INTER UNIT, SALES TAX IS NOT CHARGED AGAINST FORM F.


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