asset transfer
This query is : Resolved
CA CS Shradha tolia
(Querist)
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.
CA CS Shradha tolia
(Querist)
27 April 2010
how because its transfer
CA CS Shradha tolia
(Querist)
27 April 2010
can u giv me with case law
SANJAY JAIN
(Expert)
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).
CA CS Shradha tolia
(Querist)
28 April 2010
its not about transfer its about utilising credit when i transfer capital goods do i need to pay excise
SANJAY JAIN
(Expert)
28 April 2010
The credit amount would be transferred alongwith the capital goods.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Issuing of delivery challan by seller of goods
- Transfer of Physical Stock Between Two Proprietorship Concerns
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Taxation of crypto futures in India Fy 2026- 2027
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- EPF ECR NEW RULES Sep 17th 2026
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
