We are shifting our entire unit along with all machinery from one excise range to another.We are not leaving any unutilized cenvat credit in our existing unit and clearing all our finished goods. We are also selling back our balance raw material back to the manufacturer and reversing the input claimed on it.
We do realize that we have to apply for a new excise number for our new unit since it is premises based.
What is the procedure for shifting of machinery on which cenvat credit has already been availed?
Do we need to
a}make excise invoice and reverse the credit and then avail the credit on our new number or
b) Intimate the A/C under rule 10 and wait for his permission?
or any other option
Rule 10 seems to deal with the transfer of unutilized cenvat credit.Is it relevant is our case too?
Kindly give detailed feedback.
CAclubindia
