16 July 2013
we have opened new premises at Place call B, now we need to transfer the available stock to new premises from old premises call A , and as u know both the registration are different and in working.
Kindly understand our following situation.
1 We have procured under advance license with Zero duty – Non Dutiable material, that is Import.
2 We have procured Local & Import material which is coming under – Dutiable material.
As per our information we need to follow-up following procedure.
1. Stock transfer – need to take out information from the date incoming – (which is from very old data, duty for unaccounted Sku’s impossible to be workout cause for each cabinets involved nearly 1400 Sku’s) and make the stock transfer invoice with remarks input clearance as such - along with annexure showing columns that Invoice/BOE no date, Basic Value + Input Duty (Credit).
And for procured under Zero duty against advance license need to intimate letter to DC - Excise along with annexure details of BOE No & Date, Description, Qty, Basic Value , CVD Value and with License copy and BOE copies.
Second Option :
2. Under rule 10 of CCR :- Pls advice on following :-
1) whether it is possible to be transfer all the stock under this, 2) can we need to make annexure of all transfer items and submit to DC of Excise with intimation letter 3) can we seek permission from DC against same letter or we go ahead simply with same intimation letter 4) can they ask new superintendent to identify the material after receipt at our new premises, 5) can we keep alive production activities at our old premises and able to execute the invoicing from old premises in transition period.
CAclubindia
