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excise duty demand

Central Excise - Started By: - Anil Jangid - Dated:- 10-1-2016 Last Replied Date:- 13-1-2016 - Hello Sir, I have purchased an asset for my manufacturing unit over the period of years and have not claimed excise at the time of purchase. However when i had cleared the asset in 2014 -2015 in one goal, I have not charged excise at the time of sale. The excise dept however claims that you need to pay excise duty at the time of clearance undoubtedly you have availed excise credit or not? If i don' .....

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t you had not availed the credit of duty paid on such asset at the time of purchase. Rule 5A (a) of Cenvat Credit Rules, 2004 If the capital goods, on which CENVAT credit has been taken, are removed after being used, the manufacturer or provider of output services shall pay an amount equal to the CENVAT Credit taken on the said capital goods reduced by the percentage points calculated by straight line method as specified below for each quarter of a year or part thereof from the date of taking th .....

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