Rule 3(5a) cg removed as waste and scrap
This query is : Resolved
Suraj Pathak
(Querist)
21 May 2014
I want to know whether any changes has been made in this rule???
i have heard that the requirment of calculation using 2.5% for each quarter has been abolished???
Arun Kumar Singh
(Expert)
21 May 2014
Removal of scrap and capital goods after used both are deferent. Duty will be payable on scrap on assessable value but duty will be payable on capital goods after use calculation of 2.5% per quarter.
Rupesh Jain
(Expert)
30 May 2014
yes at present rule of 2.5@ per quarter rule is abolished now you have to pay excise duty @ current rate on transaction amount/selling price.
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