Excise duty on sale of plant & machinery
This query is : Resolved
CA SHASHI KUMAR CG
(Querist)
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
CA RICHA BADALIA
(Expert)
27 February 2013
Read rule 3(5A)of the Cenvat credit rules,2004.
This will help you!!
This will help you!!
CA SHASHI KUMAR CG
(Querist)
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.
CA RICHA BADALIA
(Expert)
27 February 2013
Then you are not liable to pay excise duty.
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