01 August 2015
Dear Sir's, there is no expected business so we cancelled registration online and submitted at excise office. before that we are filing returns regularly nil returns, but last year there was a huge input is available in books we sold less rate where we purchased and made cenvat zero. to be frank we never paid duty in PLA but paid in CENVAT by debiting input. now superintendent asking us to go audit compassionate for valanterly audit since we never fall under audit. because there is less then 50lacs cenvat. superintendent saying if there is no issues can give confirmation of closing. please let us know this is right practice, and kindly suggest further process for smooth closing of registration. Thanks
15 September 2015
At the time of surrender of registration you should also debit the cenvat credit of the valuation of stock. You should consult with any professional.
CAclubindia
