Sale of Excisable Capital Goods
This query is : Resolved
K Vinod Kumar
(Querist)
09 July 2009
Sir,
I had purchased a Forklift for my company. The CENVAT credit had been utilised in the last two years. Now we are planning to sell the forklift.
Do we have to reverse the credit utilized completly? What is formality to Invoice the item?
Kindly advice.
Regards
Vinod
I had purchased a Forklift for my company. The CENVAT credit had been utilised in the last two years. Now we are planning to sell the forklift.
Do we have to reverse the credit utilized completly? What is formality to Invoice the item?
Kindly advice.
Regards
Vinod
10 July 2009
u need to reverse the credit after deducting 2.5% per quarter of use.
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