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TMI Blogcan we eligible for transfer or refund of Cenvat Credit?X X X X Extracts X X X X X X X X Extracts X X X X ..... can we eligible for transfer or refund of Cenvat Credit? X X X X Extracts X X X X X X X X Extracts X X X X ..... e Tax) and the process which was done here in hither to, to the shifted to our another unit (same entity) can we transfer the unutilised Cenvat credit from the books of our frist unit (small unit) to the our second unit if the department overrule to sanction of Cenvat credit, can we apply for refund of the Cenvat accumulated in the first unit. Thanks to all. BENARJEE GOVADA Reply By Razesh Sharm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a: The Reply: (1) If a manufacturer of the final products shifts his factory to another site or the factory is transferred on account of change in ownership or on account of sale, merger, amalgamation, lease or transfer of the factory to a joint venture with the specific provision for transfer of liabilities of such factory, then, the manufacturer shall be allowed to transfer the CENVAT credit ly ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing unutilized in his accounts to such transferred, sold, merged, leased or amalgamated factory. (2) If a provider of output service shifts or transfers his business on account of change in ownership or on account of sale, merger, amalgamation, lease or transfer of the business to a joint venture with the specific provision for transfer of liabilities of such business, then, the provider of outpu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t service shall be allowed to transfer the CENVAT credit lying unutilized in his accounts to such transferred, sold, merged, leased or amalgamated business. (3) The transfer of the CENVAT credit under sub-rules (1) and (2) shall be allowed only if the stock of inputs as such or in process, or the capital goods is also transferred along with the factory or business premises to the new site or owne ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rship and the inputs, or capital goods, on which credit has been availed of are duly accounted for to the satisfaction of the Deputy Commissioner of Central Excise or, as the case may be, the Assistant Commissioner of Central Excise. X X X X Extracts X X X X X X X X Extracts X X X X
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