Can one person be a partner in 2 companies ?
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 August 2011
I have a company importing textile raw materials where I am a partner and pay CVD while I import. This firm is not registered with excise department. No cenvat is taken for any goods sold.
Now I want to start another partnership firm which will import some other garment accessories and I want to register this firm under excise so that I can pass on the cenvat facilities to my buyers locally.
Can I do in such a way and will there be a problem with excise department ?
with best regds
Now I want to start another partnership firm which will import some other garment accessories and I want to register this firm under excise so that I can pass on the cenvat facilities to my buyers locally.
Can I do in such a way and will there be a problem with excise department ?
with best regds
RAMESH KUMAR VERMA
(Expert)
04 August 2011
yes, possible.
if the goods textile raw material applicable for duty, you get registered in excise department if your turnover across 1.5 crore.
if the goods textile raw material applicable for duty, you get registered in excise department if your turnover across 1.5 crore.
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