TaxTMI 
TaxTMI 
Method of depreciation working ....Indigenous capital goods procured without payment of duty
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....ethod of depreciation working ....Indigenous capital goods procured without payment of duty<br> Query (Issue) Started By: - deepak kalambate Dated:- 18-6-2012 Last Reply Date:- 4-10-2012 Central Excise<br>Got 4 Replies<br>Central Excise<br>Dear Sir, Indigenous capital goods procured by 100% EOU without payment of duty and paid duty on depreciated value at the time of debonding, what is the proper....
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.... method for calculation of depreciation. 1. As per Notification No. 39/2007 CE? or 2. As per FTP Para 6.36.3 Reply By CA. Surender Gupta: The Reply: Something is missing! Whether, cenvat credit has been av availed against the duty paid by the EOU on debonding. If yes, irrespective of the fact at what value, such EOU has paid the duty, the unit availing the CENVAT credit should treat the same ....
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....as fresh and depreciation to be calculated fresh. However, more detailed and clear query may help to address the issue precisely. Reply By deepak kalambate: The Reply: Dear Sir, 100% EOU has procured goods without payment of duty and no cenvat credit is taken. At the time of debonding, depreciation was calculated as per para 6.36.3 of FTP and paid excise duty on depreciated value. Now C.Ex. d....
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....epartment is saying that EOU should calculate depreciation as per notfn no.39/2007 and not as per FTP Para 6.36.3 Pl advise. Reply By CA. Surender Gupta: The Reply: When no cenvat credit has been availed, there is no question to apply the provisions of Cenvat Credit Rules, 2004 on the transaction. You need to follow provisions of FTP only. Reply By deepak kalambate: The Reply: Dear Sir, Tha....
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....nks for your reply. Can u please send me any related case laws or OIO Thanks & Regards,<br> Discussion Forum - Knowledge Sharing ....