Rejected Goods

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..... Rejected Goods
Query (Issue) Started By: - SURYAKANT MITHBAVKAR Dated:- 15-12-2015 Last Reply Date:- 16-12-2015 Central Excise
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Central Excise
We have purchased some old machi .....

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..... ne (Capital Goods) from our customer and after taken as input avail cenvat credit. After modification in the same machine can we sell to our other customer mentioning same machine name which we have .....

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..... taken as input. Reply By KASTURI SETHI: The Reply: Yes. You will have to pay full Central Excise duty treating it as a new product on transaction value.Be serious about valuation of the machinery. .....

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..... Transaction value should not be reduced treating it being old machinery. It appears to me that you have not followed procedure laid down under Rule 16 A, 16 B,16 C of Central Excise Rules,2002. Deptt. .....

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..... is concerned with full duty otherwise audit objection would be raised.
Discussion Forum - Knowledge Sharing .....

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