Cenvat credit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 February 2013
A company having two different units (as part of the entity)at different locations within the same city and engaged in manufacturing two different final products of different chapter heads.
Of the two, one unit is having accumulated Cenvat Credit. The other unit is paying excise thro' PLA since there is shortfall in Cenvat Credit.
Is it possible to use the accumulated Cenvat Credit of one unit by the other unit as both are coming under one single entity. If yes, please guide on the procedure involved with reference to Excise Act/Rules/Circulars/Notifications if any.
Of the two, one unit is having accumulated Cenvat Credit. The other unit is paying excise thro' PLA since there is shortfall in Cenvat Credit.
Is it possible to use the accumulated Cenvat Credit of one unit by the other unit as both are coming under one single entity. If yes, please guide on the procedure involved with reference to Excise Act/Rules/Circulars/Notifications if any.
Arun Kumar Singh
(Expert)
21 February 2013
If a manufacturer of the final products shifts his factory to another site or the factory is transferred on account of change in ownership or on account of sale, merger, amalgamation, lease or transfer of the factory to a joint venture with the specific provision for transfer of liabilities of such factory, then, the manufacturer shall be allowed to transfer the CENVAT credit lying unutilized in his accounts to such transferred, sold, merged, leased or amalgamated factory under rule 10 of cenvat credit rules 2004.
Message likes :
1 times
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
- Visiting card purchase
- Query on effect of registration of property
- GST on reimbursement of expenses
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Number of years as per AS amortisation of Goodwill
- Additional trade name
- Whether output tax is taken credit by purchaser
- Wrong CMPo8 file
- Equity Share Sale and Purchase
- Foriegn assets disclosure
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
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
