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Inter unit sale

This query is : Resolved 
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(Querist)
12 August 2012 Hello,
can a company make profits by inter units sale of its fixed assets..?? and what will be if it is branch..??
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Nachiket Vasantgadkar

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Nachiket Vasantgadkar (Expert)
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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rahul

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rahul (Querist)
17 August 2012 thank you sir
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