about selling of the imported machinery, Central Excise

[MEHUL ASHAR]

Respected Sir,

                         I have purchased an imported machinery in the year 2010-11 & have taken credit of cvd+addl.duty(4%), now I want to sell that machinery to my other unit having same PAN so I have to depriciate the duty at 2.5% quarter to the cvd,so same I have to depriciate to the addl.duty charged at 4% or not.

Posts / Replies

[Pradeep Khatri]

Total duty on which you had availed the CENVAT credit  need to be charged to depreciation @ 2.5% per quarter.

[Surender Gupta]

 

Yes, only 2.5% is required to depreciate. There is no requirement to consider add. duty separately.