Excise duty on capital assets
This query is : Resolved
Rakesh Sharma
(Querist)
25 June 2013
We have purchased a machine from non-excisable unit in Rs 4.7 Lacs in Nov-2012.
Now, today we want to sale the same in Rs. 5.1 Lacs. We, excisable & manufacturing unit.
Should we impose excise duty @ 12.36% on this transaction?
please advise.
Now, today we want to sale the same in Rs. 5.1 Lacs. We, excisable & manufacturing unit.
Should we impose excise duty @ 12.36% on this transaction?
please advise.
Arun Kumar Singh
(Expert)
25 June 2013
No need to pay excise duty if you have purchase that goods from non-excisable unit.
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