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sale of used Capital goods -reg

Central Excise - Started By: - vinay wakde - Dated:- 11-5-2016 Last Replied Date:- 14-5-2016 - We are selling old oxygen Injection unit and other equipments to our parent unit, which is not used by us. The same were received around 11 to 12 years back. Whether, we have to pay an amount equal to the CENVAT Credit taken on the said capital goods reduced by 2.5% depreciation per quarter calculated by straight line method as per sub rule (5A) of Rule 3 of CCR, 2004 or Excise duty to be paid on trans .....

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riend,Since the duty become ZERO in terms of the rule specifying 2.5%, you need not pay duty equivalent to the amount of credit taken and that too you are clearing the equipment under the same name. Pl. try to indicate the Date of receipt and date of credit availed on the equipment on the relevant clearance documents.However, if clear the said equipment as scrap of Oxygen Injection unit, then you have to pay the duty on Transaction value.Best RegardsSuryanarayana - Reply By Ganeshan Kalyani - Th .....

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