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Excise treatment for fixd asts on convrsion of porp in firm

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(Querist)
29 December 2013 Dear All,
Suppose a person running proprietorship firm gets converted into partnership firm by adding his son as partner and all assets & liabilities are transferred to that firm. further, whether we have to raise excise invoice for transfer of the fixed assets to that firm & pay excise accordingly in prop. firm. OR we have to just inform change in constitution to excise officer
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Arun Kumar Singh

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Arun Kumar Singh (Expert)
01 January 2014 Manufacturer can transfer unutilised cenvat credit to the transfered/sold/merged/leased or amalgamated factory/busines- rule 10(1) and 10(2) of cenvat credit rules.
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