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Cenvat credit taken from another unit.

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Querist : Anonymous

Querist : Anonymous (Querist)

09 February 2013 Sir,

We K.L.Concast Pvt. Ltd have two manufacturing unit, One at Ghaziabad and IInd at Thiryvallur in Tamil Nadu. We want to transfer Cenvat balance from One unit to another unit, How can we do plz suggest me.

Thanks

Arun Kumar Singh

Arun Kumar Singh (Expert)

10 February 2013 A manufacturer or producer of final products, having more than one registered premises, for each of which registration under the Central Excise Rules, 2002 has been obtained on the basis of a common Permanent Account Number under the Income-tax Act, 1961 (43 of 1961), may transfer unutilised CENVAT credit of additional duty leviable under sub-section (5) of section 3 of the Customs Tariff Act, lying in balance with one of his registered premises at the end of a quarter, to his other registered premises by-

(i) making an entry for such transfer in the documents maintained under rule 9;

(ii) issuing a transfer challan containing registration number, name and address of the registered premises transferring the credit and receiving such credit, the amount of credit transferred and the particulars of such entry as mentioned in clause (i),

and such recipient premises may take CENVAT credit on the basis of the transfer challan.

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