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author's profile photo Former Member
Former Member

Excise Reversal on asset sell and transfer

Hi

We have two plants, one each in Daman and Uttranchal. We have taken excise credit on purchasing of asset for our Daman Plant two years back. Hoever nopw we are transferring the capital asset from Daman to Uttranchal. We are doing the transaction of ABUMN for asset transfer with in a company code as both the plants are with in the same company code.

Similarly, in a second casewe are selling a capital asset for which we have taken a modevat credit. What would be the process to capture the excise duty reversal for transfer and sale of capital assets from our daman plant.

Regards

Sanil Bhandari

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1 Answer

  • author's profile photo Former Member
    Former Member
    Posted on Aug 10, 2008 at 04:33 PM

    Hi

    to the best of my knowledge, in asset module you can perform the transaction related with transfer, retirement etc. if you want to create any legal document (specially in india), you have to create the same in SD module. for this u have to create separate pricing procedure with manual input for ED and other taxes. the pricing procedure to be such a way that u have to create sales order and then direct billing. no deliavery.

    Please get in touch with your SD consultnat. still have any doubt, revert.

    regards

    DD

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