Excise treatment for fixd asts on convrsion of porp in firm

This query is : Resolved

Harshkumar S Sharma (Querist)
Follow

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

Arun Kumar Singh

Arun Kumar Singh (Expert)
Follow

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.

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

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok