What is the procedure to apply for transfer of balance CENVAT Credit from old factory depot to new premises as the old depot has been shut down and now operations are conducted at new premises???? (Pvt ltd company in my case)
3 Replies
ANIL KUMAR BEZAWADA
(Chartered Accountant)
(339 Points)
Replied 23 August 2016
There is no procedure as such as it is only shifting of address. Howvere file a letter about transfer of credit. In the letter you it is better to indicate that the closing inventory and liabilities properly accounted in Books of new premises.
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 23 August 2016
best way to send goods under invoice by paying duty from old to new regd premises, and avail the input credit on the strength of such invoice,
alternate way is to write juridictional deputy commissioner of both the divisions, and the old division deputy commissioner will depute a R/O to ascertain the value of stock lying in hand, assess duty and then allow the assessee to transfedr the credit, this is too much cumbersome, as their valuation method may not suit the practial fields of industry,
however the assessee is free to exercise the either way
Rahul Rathi
(Article assistant)
(42 Points)
Replied 24 August 2016
Thank you so much Sharma sir & Anil Sir....
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