Excise duty on fixed aset
This query is : Resolved
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
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
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.
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.
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.
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.
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.
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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Reopen of assessment proceeding
- TDS on Consultancy- Non DTAA
- Depreciation of fixed assets- coop housing society in mumbai
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- Gift Received from nonblood relative
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Rental income gst and it purpose
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
