about cenvat credit

This query is : Resolved

yogesh (Querist)
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27 January 2010 If company has three units located at differenct location & if one of unit among those unit is close down then can we transfer the cenvat credit form that unit to another unit ? or what are basis for transfering the cenvat credit.

Pls reply..

yogesh kulkarni

Madhukar N Hiregange

Madhukar N Hiregange (Expert)
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29 January 2010 The best way to trasfer the credit is to reverse the duty availed on stocks in hand or on semi finished goods so that credit can be taken in the new factory.
Alternatively the credit can be transferred as set out in rule 10 of CCR.