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Central Excise - Started By: - NANDA H.L. - Dated:- 23-6-2016 Last Replied Date:- 24-6-2016 - Dear Experts We manufactured one CNC machine & made without payment of duty under notification No.67/95, manufactured in the year September 2012, valued at ₹ 7.05 lakhs. We have availed input credit of ₹ 35000.00 (including Cess) During we have made the self invoice & communicated to Range office with cost accountant certificate Now we are planning to sell the same. Need a clarificat .....

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ee years, if machine is to be sold CE duty has to be paid on transaction value as advised by Sh.Ganeshan Kalyani, Sir. - Reply By KASTURI SETHI - The Reply = In continuation of my reply dated 24.6.16, regarding the reversal input credit, when CE duty has been paid on final product (Machine is final product), the question of reversal credit does not arise. - Reply By Rajagopalan Ranganathan - The Reply = Sir, According to rule 3 (5A) (a) of Cenvat Credit Rules, 2004- If the capital goods, on whic .....

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each quarter in the third year @ 5% for each quarter in the fourth and fifth year @ 1% (ii) for capital goods, other than computers and computer peripherals @ 2.5% for each quarter: Provided that if the amount so calculated is less than the amount equal to the duty leviable on transaction value, the amount to be paid shall be equal to the duty leviable on transaction value. (b) If the capital goods are cleared as waste and scrap, the manufacturer shall pay an amount equal to the duty leviable o .....

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