Transfer of pla balance
This query is : Resolved
14 July 2012
I have transferred my unit from one jurisdiction to another jurisdiction. due to which i have surrenderred my earlier registration and took a new registration. my querry is can i transfer the balance of PLA in my new unit? if yes under which section? because the concerned authorities are denying for transfer and insisting to take refund of the balance of PLA. I have transferred my CENVAT balance and they have no objection in the same.
16 July 2012
In my opinion self transfer of PLA balance is not permissible and you have no option but to apply for PLA refund.
If you have stock in your old unit, you can prepare Invoice in favour of your new unit utilising PLA Balance and get the cavnat credit
If you have stock in your old unit, you can prepare Invoice in favour of your new unit utilising PLA Balance and get the cavnat credit
16 July 2012
Thanks sir
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