21 September 2013
dear sir, we are exciseble goods manufacturer we have two manufacturing units we have to clear some stocks from 1st unit to second unit what is the procedure to clear inter unit stock transfore? can we raise the bills from 1st unit to 2nd unit ? or is there any provision to transfore with out paying duty. please help me in this regarding
23 September 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 under rule 10A of cenvat credit rules 2004.
29 September 2013
I do not agree with Mr Arun Kumar Singh, Cenvat Credit of one unit can not be transferred to another unit as under excise law both are seperate entity though both are owned by same owner having same PAN.
AS far as STOCK TRANSFER, is concern, it may be transferred by raising EXcise Invoice with Duty payment. In such a case receving unit will claim Cenvat Credit as usual, sales Tax need not to be charged as it is Stock Transferred under Sales Tax
CAclubindia
