Under Chapter IX, Partnership firm converted in Pvt. Ltd. Co., as on 26/07/2012, and paid VAT & Excise in old No. of Partnership firm upto 16/08/2012, as the new Nos in Pvt. Ltd. Co. were not alloted by VAT & Excise Dept.
What are the consequences of VAT & Excise paid in Old Nos. from 26/07/2012 to 16/08/2012?
Excise duty paid by old firm will be treated aspaid properly but for Cenvat credit's transfer you have to seek permission under Rule 10 of the Cenvat Credit Rules,2004
Raksh*t
9810525780
Shyam Joshi & Associates
Pune
B.Com
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Karia Overseas
Ahmedabad
CA
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