Viren L. Kothari (Sole Proprietor) (25 Points)
17 August 2012Under Chapter IX, Partnership firm converted in Pvt. Ltd. Co., as on 26/07/2012, and paid VAT & Excise in old No. of Partnership firm upto 16/08/2012, as the new Nos in Pvt. Ltd. Co. were not alloted by VAT & Excise Dept.
What are the consequences of VAT & Excise paid in Old Nos. from 26/07/2012 to 16/08/2012?
Rakshit
(practising)
(338 Points)
Replied 20 August 2012
Excise duty paid by old firm will be treated aspaid properly but for Cenvat credit's transfer you have to seek permission under Rule 10 of the Cenvat Credit Rules,2004
Raksh*t
9810525780
CAclubindia
