duty on clearance of used compressors

[jagadesh kumar bhojanapalli Kumar]

Dear Sir,

We are having 100% EOU unit, may we know what will be duty is applicable on removal of used compressors where we have not availed any exemptions like (either PC or CT-3).

regards,

jagadesh kumar

[DR.MARIAPPAN GOVINDARAJAN]

Whether you have got clarified in the above issue? If not please inform.

[KASTURI SETHI]

Old and used capital goods (compressors) have to be cleared on payment of duty to be calculated at depreciated value to be worked out by way of straight line method.

AI Summary

Duty on used capital goods: removal requires duty calculated on depreciated value by straight line method.
Old and used capital goods (compressors) removed from a 100% EOU without availing exemptions must be cleared on payment of excise duty computed on the depreciated value of the goods, with depreciation determined by the straight line method.