Excise duty to be paid on capital goods
Munjal (accountant) (32 Points)
11 December 2011Munjal (accountant) (32 Points)
11 December 2011
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 11 December 2011
look into the invoice issued by yourself, if the same is issued as capital goods clearance, then no need to pay duty, but if its issued as finished goods / passed through RG-1/DSA, then duty is payable on transaction value.
Munjal
(accountant)
(32 Points)
Replied 12 December 2011
We have romoved the capital goods from the RG23 C part 1 register only.
we have sold the machine to third party at the value of 3,00,000 RS.
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 13 December 2011
ask the audit team to issue SCN, as your stand is right and they are not updated with the CCR 2004
CA Prabhat Gupta
(Manager (Indirect Taxes))
(821 Points)
Replied 14 December 2011
Agree. No duty is requuired to be paid on the basis of above facts.
Munjal
(accountant)
(32 Points)
Replied 14 December 2011
thanks for all of you for all the help.
Audit team has backed down.
Regards
Munjal
(accountant)
(32 Points)
Replied 14 December 2011
thanks for all of you for all the help.
Audit team has backed down.
Regards