Please Help: to sale a machinery.
Posted Date : 28-Jan-2012 , 11:54:43 am | Posted By: Mehul
Category :
Excise | Answers :
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Comments :
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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? |
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Answers:
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 Answer by: Mrattunjay |
| simple as salable in ordinary case.
No exise CENVAT can be take at the time of purchase.
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| Comments |
| Posted By : Rishabh Upadhyay |
28-Jan-2012, 11:47:10 |
| If 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. |
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| Posted By : Ca Anshul Heda |
28-Jan-2012, 04:27:53 |
| if 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 |
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