Transfer of Cenvat Credit

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Dear Sirs, Our client has two factories manufacturing alloy steel castings. Unit -1 is in Maharashtra and Unit-2 is in Karnataka. Unit-1 is now closed and some of the capital goods and stocks were transferred to the Unit-2, in mid 2016. Unit-1 is having substantial cenvat credit as on today, Jan 2017. Can such credits be transferred to Unit-2 and utilised for clearances from Unit-2?? Rule 10 .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... states that transfer is possible. Would like to know what is the procedure?? The company has a turnover of 60cr out of which 50% is for exports. Request the honourable members to shed some light on this issue. Thanks and Regards, Vardharajan AV - Reply By Ganeshan Kalyani - The Reply = To begin the discussion i would like you to refer Issue Id: - 3209 Dated: 22-7-2011. - Reply By KASTUR .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... I SETHI - The Reply = Rightly advised by Sh.Ganeshan Kalyani, an expert. You can get refund also. There are so many case laws. Two case laws are appended below:- 2016 (6) TMI 314 - CESTAT CHENNAI Leo Oils Lubricants Versus Commissioner of Central Excise, Chennai 2016 (8) TMI 293 - CESTAT BANGALORE M/s. Bangalore Cables P. Limited Versus Commissioner of Central Excise Refund of .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... unutilized CENVAT Credit on closure of factory is admissible - As LB decision relied on by Revenue did not consider High Court order allowing refund, same cannot be followed: CESTAT - Transfer of Cenvat Credit - Query Started By: - Vardharajan Aiyangar Dated:- 13-1-2017 Central Excise - Got 2 Replies - Central Excise - Discussion Forum - Knowledge Sharing, reply post by an expert, pe .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... rsonal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X