asset transfer
This query is : Resolved
26 April 2010
if there are 2 units and entire assets are transfered from one unit to another will it attract excise, if so how?
27 April 2010
yes excise is applicable at normal rate . Buying unit can take cenvat credit of the same.
27 April 2010
how because its transfer
27 April 2010
can u giv me with case law
27 April 2010
The Excise complication would come only if the unit is registered in Central Excise and observing under CENVAT Credit Rules,2004.
The Rule 10 of the CENVAT Credit Rules,2004 is very clear for transfer of CENVAT Credit. The manufacturer is allowed to transfer credit to another unit in specified conditions. This transfer is subject to transfer of raw material, semi finished goods and capital goods.
For further query, feel free to write sanjayinfbd@yahoo.com (M-09350048731) or visit, HNO. 2489/8,Faridabad(Haryana).
The Rule 10 of the CENVAT Credit Rules,2004 is very clear for transfer of CENVAT Credit. The manufacturer is allowed to transfer credit to another unit in specified conditions. This transfer is subject to transfer of raw material, semi finished goods and capital goods.
For further query, feel free to write sanjayinfbd@yahoo.com (M-09350048731) or visit, HNO. 2489/8,Faridabad(Haryana).
28 April 2010
its not about transfer its about utilising credit when i transfer capital goods do i need to pay excise
28 April 2010
The credit amount would be transferred alongwith the capital goods.
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