TMI BlogCorrect valuation - Applicable duty rateX X X X Extracts X X X X X X X X Extracts X X X X ..... We imported 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 ..... ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... valuation 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 , ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on which CENVAT 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 reduc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed by 2.5% percent 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. Yo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ur action of payment of 8% on imported machinery on WDV is not correct. - Correct valuation - Applicable duty rate - Query Started By: - Rajkumar Chandnani Dated:- 30-11-2009 Central Excise - Got 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Replies - Central Excise - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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