Branch transfer

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payal (Querist)
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20 May 2016 our manufacturing pvt. ltd. company based at Baroda , Gujarat. Management decided to transfer all raw material , finished goods and Machinery form Baroda gujarat to Andra pradesh. Note that Baroda unit is closed now. There is no change in company name or ownership. We have transfer all material , Fnished goods and machinery against form F. Now my question is reversal of cenvat credit is applicable in case of branch transfer ? and how can I reverse cenvat credit for capital goods, imported items and raw material. ?

Rupesh Jain

Rupesh Jain (Expert)
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20 May 2016 you are making sale/ stock tfr then you have to raise the invoice and mention the TIN & excise number then you can take the cenvat full for that you have to tfr the Raw materail as is it rate and for Finished and CWIP you have to add 10% of the cost on material, seperately show on invoices as " addition for stock tfr." heading and then charge the excise duty on basic+ addition for stock tfr= then no excise duty disallowed on the Finished and CWIP goods. and on another on issue of disallow applicable.