Surrendering excise registration and subsequent mfg.

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This query is : Resolved

Srujan Joshi (Querist)

09 August 2015 Dear Sirs,
We are a SSI manufacturing unit registered under Excise for 22months (1year-10months)
We are paying duty since day 1 - of start of manufacturing. We have not availed the SSI exemption.
We now wish to surrender our registration since the customer order for which the registration was taken has been short closed.
However we have other small manufacturing orders and jobwork orders in hand for which we wish to continue manufacturing.
Also we want to move to other location.

Can we surrender the registration and start manufacturing without payment of duty?
Will we have to reverse the credit taken on raw material?
What treatment is given to credit availed during Purchase of Capital Goods in such a case?
Will you please advise.
Thanking in anticipation.

Arun Kumar Singh

Arun Kumar Singh (Expert)

09 August 2015 If your turnover is less than 1.5cr then you can surrender the registration and reversed the credit taken on remaining stock. You should consult with any professional.

Srujan Joshi

Srujan Joshi (Querist)

10 August 2015 Arun Sir,

Thanks for your response.
Our Turnover is less than 1.5 Cr.
I have consulted two Excise consultants and both have opposite opinion.
Is there any concrete directive in such a case.

Thanks

Arun Kumar Singh

Arun Kumar Singh (Expert)

10 August 2015 Dear Joshi ji,
Please contact with me or provide me your contact details. We want to talk with you.

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