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Reverse in scrap of Asset

Central Excise - Started By: - Swapneswar muduli - Dated:- 7-1-2017 Last Replied Date:- 9-1-2017 - Dear Sir,If we are scrap out our assets like our used machinery than on which amount we need to pay excise duty.On Transaction value or on after reduction of 2.5% per quarter ?We are removing as a scrap old used machinery not removing as such.RegardsSwapneswar Muduli - Reply By SHIVKUMAR SHARMA - The Reply = Dear Swapneswar Please refer sub rule(5b) of rule 3 of cenvat credit rules 2004. (b) If the .....

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tion of 2.5% per quater basis. After the scrap , If your machinery is reusable in such condition you have to follow cenvat rules. - Reply By Ganeshan Kalyani - The Reply = I agree with the views of Sri Mukundji. Thanks. - Reply By Atul Kumar - The Reply = As per Rule 5A for capital goods, other than computers and computer peripherals @ 2.5% for each quarter to be reduced from transaction value. Provided that if the amount so calculated is less than the amount equal to the duty leviable on transa .....

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