Cenvat on Capital Goods
This query is : Resolved
06 February 2010
We purchased a machine on 1.4.2006. We took cenvat of machine that time. We use that machine in production till now.
Now we want sell or dispose of that machine (workable condition not as scrap). So how much we have to pay excise on this ? is it on equal to Cenvat Credit Taken or selling price ? But there are provision in Cenvat Rule if capital goods dispose after use in production that means u are not selling as such so we have not liability to pay cenvat on this is it correct? please Tell me Sir.
Thanks in advance
Now we want sell or dispose of that machine (workable condition not as scrap). So how much we have to pay excise on this ? is it on equal to Cenvat Credit Taken or selling price ? But there are provision in Cenvat Rule if capital goods dispose after use in production that means u are not selling as such so we have not liability to pay cenvat on this is it correct? please Tell me Sir.
Thanks in advance
06 February 2010
There is no excise duty involved.
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