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Capital Goods removal after 10 years usage to our Own unit II - under excise invoice with zero duty -

Central Excise - Started By: - venkataraman swaminathan - Dated:- 2-4-2016 Last Replied Date:- 5-4-2016 - Dear sir,We removed one capital goods ( Machine) to our own Unit , Unit 2 ( ie. from Unit 1 to Unit 2 ) . The said machine is more than 10 years .....

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int , that because the value is indicated in the Excise Invoice we need to pay duty even though the life of said CG more than 10 years the value to be treated as transaction value & duty to be paid . . Request Experts opinion and if any case law .....

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le 3 (5) Provided also that if the capital goods on which CENVAT credit has been taken are removed after being used, the manufacturer or provider of output service shall pay an amount equal to the CENVAT credit taken on the said capital goods reduced .....

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ng used, the manufacturer or provider of output service shall pay an amount equal to the CENVAT credit taken on the said capital goods reduced by 2.5 per cent for each quarter of a year or part thereof from the date of taking the Cenvat Credit. - Rep .....

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cited by you. Please have a re-look. Thanks. - Reply By Rajagopalan Ranganathan - The Reply = Sir, If you remove the capital goods used for 10 years or more the credit availed is to be reduced @ 2.5% per quarter of use and the same will bee 100% afte .....

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unit II you will show the value of the used capital goods in the transport documents for your accounts purpose. According to proviso to rule 3 (5A) (a) provided that if the amount so calculated is less than the amount equal to the duty leviable on tr .....

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uty on that value. Since unit II can take the credit of duty paud by your unit I this is a revenue neutral situation. Hence the audit objection is, in view, is sustainable. - Reply By KASTURI SETHI - The Reply = Comprehensive and fool-proof reply by .....

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