Excise duty on fixed aset

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This query is : Resolved

gaurang (Querist)

10 January 2016 Hello Sir,
I have purchased an asset for my manufacturing unit over the period of years and have not claimed excise at the time of purchase. However when i had cleared the asset in 2014 -2015 in one goal, I have not charged excise at the time of sale. The excise dept however claims that you need to pay excise duty at the time of clearance undoubtedly you have availed excise credit or not? If i don't have to charge excise at the time of clearance, Can someone provide me details or circular or notification for the same please.
Awaiting,
Regards

ANIL JANGID

ANIL JANGID (Expert)

10 January 2016 one can claim of cenvat within one year.if suppose it is over of one year you can not claim cenvat credit,excise dept. right say charge excise duty of cleared goods.

gaurang

gaurang (Querist)

10 January 2016 Sir,
I have not taken credit of asset at the time of purchase. Do I have to charge cenvat at the time of clearance of those asset. This id for Financial year 2014 - 15.
Kindly revert back with necesary proofs of notification or circular.

gaurang

gaurang (Querist)

Arun Kumar Singh

Arun Kumar Singh (Expert)

17 January 2016 If you have not taken the cenvat credit on capital goods then at the time of sale no need to pay duty on that goods. you should consult with any professional.

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