canvat Credit
This query is : Resolved
28 February 2011
It firm Start it new Firm & During construction period paid all Payment from Old Firm for New firm. at that time services tax paid for New firm but from Old firm can be taken as Setoff for Old Firm.
my Q? is that Old firm can take cenvat credit of new firm which is still in Construction & for that payment is made from Old firm.
my Q? is that Old firm can take cenvat credit of new firm which is still in Construction & for that payment is made from Old firm.
rajula gurva reddy
(Expert)
01 March 2011
If any Cenvat Credit balance is available with the old firm, the same can be transferred to the new firm.
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