Transfer of assets to site
This query is : Resolved
18 April 2009
Hi,
I have a doubt regarding Rule 3(5) of cenvat credit rules.
Rules says about remaoval of input & capital goods as such.
I am mnaufacturer. I remoave my asset (capital goods) and inputs to my customer site. I want to know excise implications. Whetehr i can take credit of the excise paid at the time of removal.
Whether is there provision against which i can remove without paying excise. It is mentioned abt service provider. Buit not abt manugacturer.
I have a doubt regarding Rule 3(5) of cenvat credit rules.
Rules says about remaoval of input & capital goods as such.
I am mnaufacturer. I remoave my asset (capital goods) and inputs to my customer site. I want to know excise implications. Whetehr i can take credit of the excise paid at the time of removal.
Whether is there provision against which i can remove without paying excise. It is mentioned abt service provider. Buit not abt manugacturer.
21 April 2009
The background is not clear.
If you are to receive the goods back the same canbe removed under A retrunable delivery challan.
If sold for good then inputs canbe removed on reversal of credits availed and capital goods after deducting 2.5% per quarter of the credit balance to be reversed.
If you are to receive the goods back the same canbe removed under A retrunable delivery challan.
If sold for good then inputs canbe removed on reversal of credits availed and capital goods after deducting 2.5% per quarter of the credit balance to be reversed.
24 April 2009
I WANT TO KNOW WHETHER THIS IS APPLICABLE FOR MANUFACTURER. ALSO LET ME KNOWWOTHIN HOW MANY DAYS IT SHOULD BE BROUGHT BACK ?
24 April 2009
Even the manufacture is required to pay any duty if the goods are removed for job work. The duty is payable only when goods are not returned within 180 days.
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
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- Annual return in Gst
- SFT Cash Deposit in Current Account
- Value of property in capital gain
- FORM 26A APPLICABILITY
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
