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Scrapped Steel Sale Excise Duty

Central Excise - Started By: - george thomas - Dated:- 5-4-2016 Last Replied Date:- 6-4-2016 - Dear SirWe are doing manufacturing and trading of Edible Oil .We leased out land from Chennai Port and construct Storage Tank.Now we want to sell scrapped steel to one steel company.Plz advise excise duty is applicable or not for such sale ? - Reply By Rajagopalan Ranganathan - The Reply = Sir,Only you have availed the duty paid on the tank as credit, you have to sell the tank after reversing the credi .....

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remises. If you have not availed any credit, and selling the dismantled scrap of tank, you need not pay any duty since the said scrap is not generated in the course of manufacture of your final Products.Best RegardsSuryanarayana - Reply By KASTURI SETHI - The Reply = Sh.Surya Narayana Ji, Thanks for detailed reply, Sir. - Reply By CS SANJAY MALHOTRA - The Reply = Dear Mr. Thomas,As far as I have understand that on leased land at Chennai Port, Storage Tank has been constructed (for storage of edi .....

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