Rule 10 cenvat credit

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harpreet kaur (Querist)
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13 June 2011 there is a querry in excise regarding rule 10 of cenvat credit rules in which credit of excise can also be transfered if the ownership of the factory is changed due to lease, amalgamation, merger, sale etc...

Now there is not written that which type of lease is section talking about???? According to me, if we apply the interpretation rules to read the provision, the word lease is written with amalgamation, merger, sale etc.... i.e, all the words says that the ownership has been transfered. Therefore, the word lease to be interpreted as finance lease since there is a transfer of assets in finance lease.
However its only my perception and nothing is written anywhere.

Please suggest me..........

U S Sharma

U S Sharma (Expert)
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17 July 2011 in the CCR rules it wanted to show that if old identity is ceased to be in existance and new identity taken over the unit, by way of such transactions, then credit can be transfered also in same manner as the unit is transfered.

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