Inter unit Transfer

[RAM SHARMA]

Dear Experts,

We have two unit. We want our 11 years old capital goods transfered to our other unit. One of our capital goods value is nil and we have not availed cenvat credit on these assets. What procedure should be adopt to transfer these assests through raised invoice or challan. What type of value showed in document because commercial value nil in our books. Please advice.

Thanks 

 

AI Summary

Capital goods transfer: invoice required stating CENVAT credit not availed; valuation may be nominal, salvage, or nil.
The transferring unit must issue an invoice for removal of capital goods and state that CENVAT credit was not availed, retaining documentary proof; challans are not adequate. For assets with nil written down value, parties may record a nominal or salvage value on the invoice-supported by a chartered engineer certificate-or alternatively remove on nil value, while preserving supporting records.