https://www.taxtmi.com/forum/issue?id=109698 Excise duty arises on clearance of capital goods even if CENVAT credit was not availed at purchase. Where CENVAT credit was taken, the manufacturer must pay an amount equal to the credit taken reduced by prescribed quarterly percentages; if that amount is less than duty on transaction value, duty equal to transaction-value duty is payable. Clearance as waste or scrap attracts duty equal to the transaction-value duty. The applicability of these provisions to assets bought when credit was not allowed is arguable. en-us Sun, 10 Jan 2016 15:27:36 +0530 Thu, 23 Jan 2025 15:56:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=109698 Excise duty arises on clearance of capital goods even if CENVAT credit was not availed at purchase. Where CENVAT credit was taken, the manufacturer must pay an amount equal to the credit taken reduced by prescribed quarterly percentages; if that amount is less than duty on transaction value, duty equal to transaction-value duty is payable. Clearance as waste or scrap attracts duty equal to the transaction-value duty. The applicability of these provisions to assets bought when credit was not allowed is arguable. Discussion-Forum Central Excise Sun, 10 Jan 2016 15:27:36 +0530 https://www.taxtmi.com/forum/issue?id=109698