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TMI BlogSale of Old MachineryX X X X Extracts X X X X X X X X Extracts X X X X ..... Dear Experts, We want to sale old and used machinery. Will we reversed cenvat credit @2.5% per quater or to be charged excise duty on transaction value. Secondly can a purchaser take cenvat credit on such cenvat reversal on machinery. Pl advice. Thanks - Reply By Naveed S - The Reply = Cenvat credit to be reversed after deduction of 2.5% of duty per quarter . Yes, the purchaser can avail ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... such cenvat credit reversed on old and used machinery. - Reply By Harish Lath - The Reply = First of all you did not mention how old machinery was. If it is more than 10 years than you simply charge excise duty on transaction value and the purchaser take the cenvat credit of the same. - Reply By RAM SHARMA - The Reply = Machinery is 5 years old. My question is that we have charged excise ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... duty and cenvat reversed simentaniously. Secondly can a purchaser take cenvat credit of cenvat reverse /excise duty charged on transaction value. Thanks - Reply By S GOMTESH - The Reply = You have to calculate - 1. duty for reversal @2.5% per quater 2. excise duty on transaction value Whichever is higher needs to be paid. - Reply By SANDIP PARIHAR - The Reply = @2.5% per quarte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r charge on transaction value pl. send example for old machinery sale - Sale of Old Machinery - Query Started By: - RAM SHARMA Dated:- 9-3-2013 Central Excise - Got 5 Replies - Central Excise - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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