MY QUESTION IS THAT IF SOME ONE IS SHIFTING HIS N UNIT FROM ONE PLACE TO ANOTHER, THEN THE PERMISSION FROM EXCISE INSPECTOR REGARDING TRANSFER TO CENVAT CREDIT SHALL BE ALLOWED OR NOT
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Cenvet credit transfer
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Nice Question,
Kindly refer rule 10 of cenvat credit rules for greater clarity.
10(1) if the factory is transferred, or there is a change in ownership or on account of sale/merger/amalgamation/LEASE/ or transfer to a JV (WITH THE SPECIFIC PROVISION FOR TRANSFER OF LIABILITIES) then cenvat credit UNUTILISED is transferred
10(2) for service providers...same details as above..
10(3)credit available if- if input/capgoods are also transferred with the business premise or factory and they are accounted for to the satisfaction of AC/DC
P.S
My opinion- if there is a doubt-
Rule 10(3) is to be read without prejudice to the availibility of credit of input service, taking cognisance of the fact that rule 10(1)/(2) refer to cenvat credit as a whole.
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