Excise duty on sale of plant & machinery
This query is : Resolved
27 February 2013
Dear Experts,
My client is selling old plant & machinery which was bought in 1980 and new P & M bought in the recent years. My doubt is whether Excise duty is attracted on these two sales. If yes on what amount?
Its urgent please reply at the earliest
Thanking you.
Regards,
CA SHASHI KUMAR C G
My client is selling old plant & machinery which was bought in 1980 and new P & M bought in the recent years. My doubt is whether Excise duty is attracted on these two sales. If yes on what amount?
Its urgent please reply at the earliest
Thanking you.
Regards,
CA SHASHI KUMAR C G
27 February 2013
Read rule 3(5A)of the Cenvat credit rules,2004.
This will help you!!
This will help you!!
27 February 2013
Hi Richa,
There is a Machinery which was bought in 1980's on which input was not availed and utilised since capital goods were not eligible to claim input. In this case do we need to pay excise duty on transaction value or not.
There is a Machinery which was bought in 1980's on which input was not availed and utilised since capital goods were not eligible to claim input. In this case do we need to pay excise duty on transaction value or not.
27 February 2013
Then you are not liable to pay excise duty.
Message likes :
1 times
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
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- TAN for Partnership
- Treatment of Pension ?annuity returns on PMVY
- Free lancer income
- STCG FOR GOLD ETFs
- Specified Profession
- Long Term Service award taxability in hands of company
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
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
