Notification No. 39/2007-Central Excise (N.T.), Central Excise

[JAGANATHAN KUMARAVEL]

Please let us know whether Notification No. 39/2007-CE(N.T.) still holds good  or is there any new notification on Removal of Capital Goods - Reversal of Cenvat Credit

 

 

Posts / Replies

[pradeep khatri]

This Notification still hold good and you would have to reverse 2.5% per quarter while removing of capital goods after usage.

Furhter, there was a circular that clarifed that even if after 10 years of usage of capital goods, if removed, then, even, there is a requirement to pay C.E. duty on the transaction value of the capital goods.

Hope this will clarify this issue.

Best Regards,

Pradeep Khatri