Sale purchase of factory with assets capital goods

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Dear Members

change of ownership due to sale of factory with assets and / capital goods, in such case do we need to pay excise duty ?

Regard

kaustubh

Replies (3)

If the ownership has been changed then you need to take new registration of central excise and all the assets and liability will be transfer in the name of new unit. The SSI exemption will be available to new unit upto 1.5cr turnover. 

Dear Arun

thanks for the reply, i would like to know whether Excise department will be asking for calculation of cenvat duty on the sale of assets, capital goods. As we have purchased the factory with all the assets and nothing is moved out of the premises.

Regards

kaustubh

It may or may not be asked. 


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