excise duty amount
This query is : Resolved
14 October 2009
we have purchase a capital goods in 2001
now we want to sell it or want to transfer it to our another plant
pls advice wht amount of duty we have to dabit
1 on the amount which come after depreciation
or
the duty amount which we credit at the time of the purchse of the capital good
pls advice
thanks & rgds
RK SAINI
now we want to sell it or want to transfer it to our another plant
pls advice wht amount of duty we have to dabit
1 on the amount which come after depreciation
or
the duty amount which we credit at the time of the purchse of the capital good
pls advice
thanks & rgds
RK SAINI
14 October 2009
If the capital goods, on which CENVAT Credit has been taken, are removed after being used, the manufacturer or provider of output service shall pay an amount equal to the CENVAT Credit taken on the said capital goods reduced by 2.5 per cent for each quarter of a year or part thereof from the date of taking the Cenvat Credit;â€.
Refer rule 3(5) in the link.
https://www.cbec.gov.in/excise/new-cenvat-rules.htm
Refer rule 3(5) in the link.
https://www.cbec.gov.in/excise/new-cenvat-rules.htm
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