excise duty payable

[Ramakrishnan Seshadri]

Dear Sir,

we kindly request the experts to guide me whether to scrap the 2003 /2004 machines now excise duty has to be paid or not because the depreciation has already been calculated every year. it is almost 12 years over.

Please guide me.

Thanks

S.Ramakrishnan

AI Summary

Excise Duty Applicable on Scrapping Machines After 12 Years of Depreciation, Based on Transaction Value A query was raised regarding whether excise duty is payable on scrapping machines from 2003/2004, given that depreciation has been calculated annually for 12 years. An expert clarified that used capital goods sold or cleared as scrap will attract Central Excise duty based on their transaction value. Another expert concurred, confirming that duty will indeed be applicable as previously described.