Excise

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This query is : Resolved

Rahul Parekh (Querist)

18 August 2014 I have a query regarding one of my client which is a Private Limited Co. that, he is holding excise registration number. Previously they were using rented premises where the registration was obtained. In the said premises he was having material in hand which is raw material & Finished goods which is manufactured from the raw material & now they are shifting the premises so as per the CBEC rules we have to obtain new registration number for the said premises.

I have to inform you that there is a CENVAT Credit lying in the accounts of the older number. We need to transfer the CENVAT credit to the new number & new premises.

We have been informed by their excise consultant that, we need to maintain 2 sets of books for the date of closure of old units & starting of the new units.

Please advise me, what is correct method to be followed in excise rules to avail & Continue with the CENVAT Credit they have in the books for the old registration number & to be carried forward to the new number. And whether we have to maintain two sets of Books of Account for Old number & New Number?

Arun Kumar Singh

Arun Kumar Singh (Expert)

18 August 2014 After the transfer all inputs and capital goods in the new premises you can surrender your old registration after making all the liability in the old premises.