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TMI BlogSale of Old MachineryX X X X Extracts X X X X X X X X Extracts X X X X ..... Sale of Old Machinery X X X X Extracts X X X X X X X X Extracts X X X X ..... nd used machinery. Will we reversed cenvat credit @2.5% per quater or to be charged excise duty on transaction value. Secondly can a purchaser take cenvat credit on such cenvat reversal on machinery. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Pl advice. Thanks Reply By Naveed S: The Reply: Cenvat credit to be reversed after deduction of 2.5% of duty per quarter . Yes, the purchaser can avail such cenvat credit reversed on old and used ma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... chinery. Reply By Harish Lath: The Reply: First of all you did not mention how old machinery was. If it is more than 10 years than you simply charge excise duty on transaction value and the purchaser ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... take the cenvat credit of the same. Reply By RAM SHARMA: The Reply: Machinery is 5 years old. My question is that we have charged excise duty and cenvat reversed simentaniously. Secondly can a purc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... haser take cenvat credit of cenvat reverse /excise duty charged on transaction value. Thanks Reply By S GOMTESH: The Reply: You have to calculate - 1. duty for reversal @2.5% per quater 2.excise ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... duty on transaction value
Whichever is higher needs to be paid.
Reply By SANDIP PARIHAR:
The Reply:
@2.5% per quarter charge on transaction value
pl. send example for old machinery sale X X X X Extracts X X X X X X X X Extracts X X X X ..... ssion Forum - Knowledge Sharing ..... X X X X Extracts X X X X X X X X Extracts X X X X
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