Cenvat on takeover firm

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 June 2013 We Pvt Ltd goinf to take over one of the partnership firm doing manufacturing business called 'A' on a particular date say 20th June 2013, firm 'A' having purchase contract with their suppliers till July 2013, there is no provision for amend the orders, now my doubt is, after taken over happened we are going to receive some material in the name of 'A, in this case what is the procedure for taking CENVAT credit and input VAT in new our new compny, please provide your guidelines,

Rupesh Jain

Rupesh Jain (Expert)
Follow

18 June 2013 not possible do to nature of assessee is different

Querist : Anonymous

Querist : Anonymous (Querist)

18 June 2013 then what is the solution

Arun Kumar Singh

Arun Kumar Singh (Expert)
Follow

19 June 2013 After the takeover the business you can take the fresh registration at your constitution of the company and then you can pay the duty on finished goods and take the cenvat credit on the purchase goods.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now