13 August 2012
Company can not sale FA to its unit or branches. The fixed assets can be transferred within company to its units or branches after complying with rules and regulations of particular state for entry tax and on complying with documentation.
The cost of purchase can not change unless re-valuation is done. Also deprteciation has to be calculated on the original cost of FA.
While transfer you have to reverse Cenvat as per excise rules if Cenvat Credit taken on such FA for excise registered unit/Branch.
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