Excise duty on used imported machine
This query is : Resolved
V K Vijayaraghavan
(Querist)
01 July 2015
we want to sell an imported machinery bought in March 2011 to a domestic company . we availed cenvat . Do we have to pay ED on transaction value or reverse CENVAT or both
Also can buyer avail cenvat
Arun Kumar Singh
(Expert)
03 July 2015
Yes, you need to pay excise duty at the time of sale of capital goods. The cenvat credit will be reduced at the rate of 2.5% per quarter and buyer can avail the cenvat credit.
V K Vijayaraghavan
(Expert)
05 July 2015
I got to know that wdv calculated @ 2.5% per quarter from date of purchase or transaction value which ever is higher on which duty to be paid that is all
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