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Reversal of ED on Machine sent under CENVAT Credit Rule 4(5) (a) Challan

Central Excise - Started By: - Pradeep Jain - Dated:- 23-7-2016 Last Replied Date:- 11-9-2016 - Dear Sir, Our Company having a Capital Goods (machine )20 years old . The same machine has sent for refurbishment on the basis of returnable challan under CENVAT Credit Rules 4(5) (a). Time involve in refurbishment is around one year. Now after completion of 180 days do we need to debit excise duty under sub-clause (I) of CENVAT Credit Rules 4(5) (a) . Please advise. Regards Pradeep Jain - Reply By Ga .....

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rer or the provider of output service may take the CENVAT credit again when the inputs or capital goods, as the case may be, are received back in the factory or in the premises of the provider of output service. Thus you need to reverse the Cenvat credit. But since it is two decade now the condition of reversal of cenvat credit by 2.5% per quarter would not apply here. Thus in my view you have to pay Excise Duty on transaction value. This is my view. I also welcome views of my collegue experts. .....

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