Reversal of credit at the time of transfer of capital goods - ...

Court Clarifies Depreciation Reference in Rule 4(4) Does Not Apply to Capital Goods Credit Reversal Valuation.

July 17, 2023

Case Laws Central Excise HC

Reversal of credit at the time of transfer of capital goods - Determination of Depreciated value for reversal of Credit - The reference to depreciation under the Income Tax Act in Rule 4(4) is in an entirely different context and has no application as urged by the Appellant. This condition has to be seen solely in the context of availment of CENVAT credit only and has no bearing on the valuation of the goods. - HC

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Reversal of credit at the time of transfer of capital goods - ...

Court Clarifies Depreciation Reference in Rule 4(4) Does Not Apply to Capital Goods Credit Reversal Valuation.

July 17, 2023

Case Laws Central Excise HC

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