Whether input credit taken on new formed company which is me

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Champ (Querist)
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17 November 2011 Dear Friends,

There are two proprietorship concerns named A & co whose proprietor A and another is B & Co. whose proprietor is B. Both are husband & wife.

Now the business of these two proprietorship firms has been closed and one new company is made named AB & Co. with director of A & B.

A new ST-2 registeration certificate has been obtained in the name of company.

There is no service tax billing in these two proprietorship firm but input bill is received so whether input credit can be taken which is on the name of firm while filing return of company just because of transistion transaction.

pls clarify me..........

Manoj Malpani

Manoj Malpani (Expert)
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21 November 2011 Both the assessee's are different therefore CEnvat Credit of invoices which are in the Firm's name cannot be availed by the company..

Champ

Champ (Querist)
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17 December 2011 Thanx for ur reply......

If these two firms are merged in to new company then input credit would be availed or not.........

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