Hi
We have purchased Capital goods and utilised excise input fully, Now we have sold that capital goods to other company.Do we have to pay the excise duty which we have fully utilised in the same month?
Hi
We have purchased Capital goods and utilised excise input fully, Now we have sold that capital goods to other company.Do we have to pay the excise duty which we have fully utilised in the same month?
You can pay after claiming depreciation of the capital goods.
You can take the 50% cenvat credit on capital goods and remaining cenvat next financial year. Duty will be payable at the time of removal of goods after used.
CAclubindia
