Cenvat credit(excise)

What is the procedure to apply for transfer of balance CENVAT Credit from old factory depot to new premises as the old depot has been shut down and now operations are conducted at new premises???? (Pvt ltd company in my case)

Replies (3)

There is no procedure as such as it is only shifting of address. Howvere file a letter about transfer of credit. In the letter you it is better to indicate that the closing inventory and liabilities properly accounted in Books of new premises.  

best  way  to  send  goods  under invoice  by paying  duty  from old to  new  regd premises,  and avail the  input  credit on the strength of such invoice, 

alternate way is  to write juridictional  deputy commissioner of both the divisions,  and  the  old  division  deputy commissioner will  depute  a R/O  to ascertain the value  of  stock lying in hand,  assess duty and  then  allow the  assessee to  transfedr the credit,  this is  too much  cumbersome, as their valuation method may not suit the practial fields of industry, 

however the assessee is free  to exercise the either way 

Thank you so much Sharma sir & Anil Sir....

 

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