Payment of excise duty under rule 3(5) of central excise
This query is : Resolved
17 April 2013
sir
can any one clarify regarding consideration of quarters for calculation of excise duty on transfer of capital goods on sale/stock transfer.
caital goods received on 15.11.2012
credit availed on 25.11.2012
transfer of asset on 15.04.2013
in the above case can we consider 2 quarters ie, dec 12, March 13 or 3 quarters ie dec 12, march 13 + current quarter
thanks in advance
ramkumar ms
can any one clarify regarding consideration of quarters for calculation of excise duty on transfer of capital goods on sale/stock transfer.
caital goods received on 15.11.2012
credit availed on 25.11.2012
transfer of asset on 15.04.2013
in the above case can we consider 2 quarters ie, dec 12, March 13 or 3 quarters ie dec 12, march 13 + current quarter
thanks in advance
ramkumar ms
Anwar Khan
(Expert)
18 April 2013
1.if any capital goods removed in same year in which year recd .than you can claim 100% cenvat credit.
2.if any capital removed after 1 year you can claims 50 % in same year and rest in subsequent year .
in your case you have removed capital goods in same financila year you can claims 100% cenvat credit
2.if any capital removed after 1 year you can claims 50 % in same year and rest in subsequent year .
in your case you have removed capital goods in same financila year you can claims 100% cenvat credit
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
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Tax on Amount transferred in HUF Account
- Nursery business
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Working on Gold wastage during Melting of old gold jewellery
- TDS on Dashcam rent and allied services
- Import Order Cancelled.
- GSTR-9C filing
- GST ITC as per notification 12/2023- central tax
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Form 144 TDS Return Validation Error – Mandatory Fields
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
