Correct valuation - Applicable duty rate

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....orrect valuation - Applicable duty rate<br> Query (Issue) Started By: - Rajkumar Chandnani Dated:- 30-11-2009 Last Reply Date:- 8-12-2009 Central Excise<br>Got 2 Replies<br>Central Excise<br>We import....

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....ed machine in 2004, took cenvat cr of duty paid @ 16%. This machine is now sold by paying duty at WDV as per Account books at current prevailing duty rate i.e 8%. What should be currect .....valuation....

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.... and .....applicable duty rate ? Reply By Pradeep Khatri: The Reply: Pl. refer Seventh proviso of Rule 3(3) CENVAT Credit Rule 2004 which says 'Provided also that if the capital goods , on which CENV....

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....AT credit has been taken, are removed after being used, the manufacturer or provider or output service shall pay an amount equal to the CENVAT credit taken on the said capital goods reduced by 2.5% pe....

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....rcent for each quarter of a year or part thereof from the date of taking the CENVAT credit.' Reply By Rama Krishana: The Reply: View express by Mr. Pradeep Khatri must be followed. Your action of paym....

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....ent of 8% on imported machinery on WDV is not correct.<br> Discussion Forum - Knowledge Sharing ....