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Sale and purchase of machine without Excise duty
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....ale and purchase of machine without Excise duty<br> Query (Issue) Started By: - PRAVEEN BANSAL Dated:- 20-12-2008 Last Reply Date:- 5-1-2009 Central Excise<br>Got 3 Replies<br>Central Excise<br>We hav....
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....e purchased an old machine in year 2005 on which the supplier has not charged excise duty as he has purchased the same at the time when cenvat credit on purchase of machine was not allowed. Now we wan....
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....t to sold the above old machine without charging of excise duty since we have purchased the same without payment of excise duty. Is it correct or not Reply By Surender Gupta: The Reply: As per the sc....
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....heme of Central Excise with Cenvat Credit there is no duty or amount (equal to excise duty) is payable on removal of machine on which no cenvat credit has been availed. Therefore, you are not required....
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.... to charge or pay anything on account of excise duty or reversal of cenvat credit. Reply By GANAPATHY RAJENDRAN: The Reply: AS NO EXCISE DUTY WAS AVAILED AS CREDIT DURING THOSE DAYS, THE SALE OG THE C....
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....APITAL GOODS SUSEQUENTLY ,IS OUT OF THE PURVIEW OF CENVAT CREDIT RULES AND THEREFORE THERE IS NO NEED TO REVERSE ANY CREDIT / DUTY Reply By Shankar Patil: The Reply: No Duty needs to be paid. Because ....
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....u hv not take any credit secondly excise duty is payable onle when manufacture takes place (machine remains machine)<br> Discussion Forum - Knowledge Sharing ....