https://www.taxtmi.com/forum/issue?id=109300 When capital goods on which CENVAT credit was availed are put on rent, the supplier must charge service tax or VAT on rental receipts as per the agreement and reverse CENVAT credit proportionately by applying the prescribed quarterly depreciation adjustment from the date of purchase; the reversal and any duty/payment liability are computed on the depreciated value at the applicable rate. en-us Sat, 17 Oct 2015 16:17:17 +0530 Thu, 23 Jan 2025 15:56:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=109300 When capital goods on which CENVAT credit was availed are put on rent, the supplier must charge service tax or VAT on rental receipts as per the agreement and reverse CENVAT credit proportionately by applying the prescribed quarterly depreciation adjustment from the date of purchase; the reversal and any duty/payment liability are computed on the depreciated value at the applicable rate. Discussion-Forum Central Excise Sat, 17 Oct 2015 16:17:17 +0530 https://www.taxtmi.com/forum/issue?id=109300