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Excise duty on sales of assets

This query is : Resolved 
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(Querist)
04 August 2012 We are selling fixed assets which we had imported 1.5 years back. We did not take the CENVAT credit but we depreciated the full value of the Assets (including CVD) in our books.

Now during the sale, are we liable to charge a excise duty?

Looking forward to your kind input.
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CA CS Amit S. Kedia

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CA CS Amit S. Kedia (Expert)
04 August 2012 No, excise duty is applicable on manufacture of goods or at the time of sale if credit of the excise duty is taken at the time of purchase.
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