utilised cenvat credit on transfered capital asset

Hi this is vikky,

we purchased a capital asset on which cenvat credit has been utilised, now recently we  transfer the said asset so we would like to know the treatment of   cenvat credit allready availed.

Replies (3)

(3) Notwithstanding anything contained in sub-rule (1), in relation to a service which ceases to be an exempted service, the provider of the output service shall be allowed to take CENVAT credit of the duty paid on the inputs received on and after the 10th day of September, 2004 and lying in stock on the date on which any service ceases to be an exempted service and used for providing such service.

(4) The CENVAT credit may be utilized for payment of –

(a) any duty of excise on any final product; or

(b) an amount equal to CENVAT credit taken on inputs if such inputs are removed as such or after being partially processed; or

(c) an amount equal to the CENVAT credit taken on capital goods if such capital goods are removed as such; or

(d) an amount under sub rule (2) of rule 16 of Central Excise Rules, 2002; or

(e) service tax on any output service:

it is not as such sale, we used it for a period of 1 year

Originally posted by : vikram

Hi this is vikky,

we purchased a capital asset on which cenvat credit has been utilised, now recently we  transfer the said asset so we would like to know the treatment of   cenvat credit allready availed.

Transfer the said asset to "whom/where/why and for what consideration" if not a sale !!

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
18 August 2026
CA Semi Qualifies

Goyanka and Associates

New Delhi

CA Inter

View Details
Company
18 August 2026
Audit Assistant - Remote / Work From Home

CA ANOOP P K & ASSOCIATES

Kozhikode

CA Inter

View Details
Company
21 August 2026
Accountant

A G International

Kolkata

B.Com

View Details
Company
09 September 2026
Semi Qualified CA / CA Inter - 2 Groups Cleared

Getmyca Consultant Pvt Ltd

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 07 September 2026
CA Articles

Kothari Jain Patil & Chartered Accountants

Pune

CA Inter

View Details
Company
25 August 2026
Senior Accountant

MG Associates

New Delhi

CA Inter

View Details
Company
Featured 19 August 2026
Chartered Accountant

apricus india

Pune

CA

View Details
Company
29 August 2026
Chartered Accountant

Velionit Consulting PVT LTd

Mumbai

CA

View Details