Question

 I have imported the machinery in excise and I took 12.5% ??CVD and 4% AED credit. Now I want to sell this machinery, how to do reversal of this duty?

Answer

As per section 7 of CGST Act sale of machinery will be covered under definition of Supply. So you have to pay GST on Transaction value.

The provision of CENVAT Credit Rules relating to sale of old machine will not apply. So don't reduce amount of CENVAT i.e. 2.5% per quarter. Instead of that pay tax on transaction value. (Reply dt.07/08/2018)