Conversion of firm into pvt. ltd. co. under chapter ix

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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?

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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

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