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cenvat credit reversal on capital goods-reg

Central Excise - Started By: - Ramakrishnan Seshadri - Dated:- 11-5-2016 Last Replied Date:- 13-5-2016 - Dear Sir,We are having one imported machine imported during 2011. We have taken cvd and sad. Now we want to sell the machine. What is the procedure. whether the sad amount also has to be reversed or only cvd has to be reversed.how to go about it. Kindly experts please clarify.Thanks & Regards,S.Ramakrishnan - Reply By Praveen Maheshwari - The Reply = Dear Ramakrishan Ji, You can remove ca .....

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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 the CENVAT Credit, namely:- (i) for computers and computer peripherals: for each quarter in the first year @ 10% for each quarter in the second year @ 8% for each quarter in the third year @ 5% .....

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