Availability of excise exemption in himachal pradesh
This query is : Open
19 August 2011
One of my client wants to purchase the land, building, plant & machinery from private limited company in Poanta Sahib in Himachal Pradesh who is availing the excise exemption on the manufacturing of goods under notification no 49-50/2003 dt 10.06.2003.
The query is whether excise exemption is available to my client or not if my client purchase the land building and plant & machinery and starts production.
The query is whether excise exemption is available to my client or not if my client purchase the land building and plant & machinery and starts production.
20 August 2011
2. The exemption contained in this notification shall apply only to the following kinds of units, namely:-
(a) new industrial units which have commenced their commercial production on or after the 7th day of January, 2003;
(b) industrial units existing before the 7th day of January, 2003, but which have undertaken substantial expansion by way of increase in installed capacity by not less than twenty five per cent, on or after the 7th day of January, 2003.
=========================================
the exemption is available to new set up only, not applicable to old units taken by transfer.
(a) new industrial units which have commenced their commercial production on or after the 7th day of January, 2003;
(b) industrial units existing before the 7th day of January, 2003, but which have undertaken substantial expansion by way of increase in installed capacity by not less than twenty five per cent, on or after the 7th day of January, 2003.
=========================================
the exemption is available to new set up only, not applicable to old units taken by transfer.
24 September 2011
Now my Question is that if we purchase 100% shares from the shareholders from that company in Himachal Pradesh then whether the excise exemption is continue or not, as the exemption is available to the private limited company.
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
- GSTR-1A How to update Invoice
- Excess salary payment.
- TDS on Purchase of Immovable Property by NRI from NRI
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- SFT Cash Deposit in Current Account
- Value of property in capital gain
- When TDS on GST applied
- TDS APPLICABILITY......
- Copyright software
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
