Please Help: to sale a machinery.
Posted Date : 28-Jan-2012 , 11:54:43 am | Posted By mehul
what is the procedure to sell a machinery if it is purchased from a non-excisable trader?how to calculate duty if it has to sale after 2 months of purchase or it would be an exempted sale?
Category : Excise | Answers : 1 | Comments : 2 | Hits : 383
Answers
Answer By: Mrattunjay
simple as salable in ordinary case.
No exise CENVAT can be take at the time of purchase.
No exise CENVAT can be take at the time of purchase.
Comments
ca anshul heda
28-Jan-2012 , 04:27:53 pmif capital goods (machinery) sale after being used & cenvat credit is taken than reversal require after reducing 2.5% per quarter & if not used in manufacture than 100% reversal require. see cenvat credit rule 3
Rishabh Upadhyay
28-Jan-2012 , 11:47:10 pmIf purchased from a Non excisable trader (Which means no excise paid at the time of purchase) than there arise no question of reversal or anything. Hope i understood the question in right senses.