excise duty on sale of old machinery
This query is : Resolved
09 February 2010
I would like to know the applicability of excise duty on sale of old domestic machinery?
CA Amit Kumar Hallen
(Expert)
09 February 2010
no, there is no excise duty on sale of old domestic machine.
CMA Ramesh Krishnan
(Expert)
09 February 2010
Yes. VAT is applicable
CA Ravi Sisodia
(Expert)
09 February 2010
no excise dutu will be attrcat but VAT will be applicable.
23 February 2010
If the cenvat credit was taken on the machine then you have to reverse the cenvat credit after calculating 10% reduction in reversal for every year of usage.
23 February 2010
If the cenvat credit was taken on the machine then you have to reverse the cenvat credit after calculating 10% reduction in reversal for every year of usage.
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