Thank you for your valuable input.
I would also like to ask something related to my friend Mr. Shinde's question on the slump sale. We are in the process of transferring our business to a new JV, in which we have a share holding of less than 50%.
We shall also be transferring the assets (land, building and machinery) to the new JV through a normal or Slump sale (yet to be verified, which is more efficient), so what all types of taxes will we be supposed to pay? Some them that I "Feel" are Capital gains, VAT, Excise (I dont know)??
Also, in our existing company we have a lot of CENVAT Credit, and what would happen to it?? Will we be able to claim it in the new JV?
Thanks in advance for the positive response.