Exit From EOU
This query is : Resolved
03 December 2009
We are a 100% Export oriented Unit, we want to convert the EOU to DTA unit. Can anyone tell me how to compute the excise liability on surrender of EOU licence. If we have to pay duty on Imported Goods held / Finished goods etc Which we had imported duty free. What about the Capital Goods, we have to take the amortisated value or depreciation as per IT Act. Another important issue is if we pay duty on surrendering the licence can we avail the credit on the duty paid, if yes what document should be supported for availing such credit.
REgards
Girish Mani
REgards
Girish Mani
14 April 2010
You have to reverse the excise duties on the stocks and finished goods at that time.
You have to pay the duties after deducting the depreciation on the capital goods.
You cant take cenvat credit as you are only reversing the duties already taken.
You have to pay the duties after deducting the depreciation on the capital goods.
You cant take cenvat credit as you are only reversing the duties already taken.
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
- Opting our of sec 44AD
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Regarding appeal to GSTAT
- LC charges in relation to Asset purchased should be Capitalised ?
- Copyright software
- Value of property in capital gain
- Transporter Declaration form
- Multiple trade mark
- Regarding TDS Applicability For Director Remuneration
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Taxation on Swing Trading Income (No Other Income)
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
