Ketul (Article) (29 Points)
11 May 2012Dear All,
Client has transferred his machinery from Tamilnadu to Gujarat i.e. from one factory to another factory. Now, does this branch transfer require reversal of CENVAT credit availed by Tamilnadu branch under Rule 3(5)? If yes, whether the amount of reversal can be availed by Gujarat branch subsequently?
Rakshit
(practising)
(338 Points)
Replied 13 May 2012
Rule 10 of Cenvat Credit Rules allows transfer of credit without reversing the same.
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