transfer of finished goods on de-merger.

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..... transfer of finished goods on de-merger.
Query (Issue) Started By: - PRANAB PANDA Dated:- 11-5-2017 Last Reply Date:- 11-5-2017 Central Excise
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Central Excise
Dear Experts Our unit is an integrated Stainless Steel Plant and the existing Coke Oven i.e. Coke manufacturing facility will be transferred to new unit formed as per the scheme of de-merger. Presently we are main .....

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..... taining Daily Stock Register for all the products i.e. Stainless Steel products and also the Coke which is manufactured in Coke Oven Plant. After de-merger, the Coke Oven facility will be transferred to separate legal entity and we will take separate Excise Registration for that entity. In this context my specific query is the modality of transferring the closing stock of Coke finished goods / c .....

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..... oal tar from the Daily Stock Register of our unit to newly formed entity. Reply By KASTURI SETHI: The Reply: Before transferring/shifting all types of stock intimate the jurisdictional Range Officer. Get dated signature of Inspector of Range. In the letter give all the details regarding de-merger etc. Stock is to be transferred on regular invoice book maintained by you at present. Write the wor .....

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..... ds, "Stock transfer" to ---------name of new unit. Give reference of letter written to Range. Since you are to remove excisable goods, the same are to be removed on routine invoice under Rule 11 of CE Rules. All documents regarding shifting must be kept as records in both units. Reply By PRANAB PANDA: The Reply: Thanks for the valued advice and my specific query is that can the newly f .....

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..... ormed unit be able to avail cenvat credit on the basis of stock transfer as per invoice issued under rule 11 of Central Excise Rule,2002. Thanks Pranab Kumar Panda Reply By KASTURI SETHI: The Reply: Yes, undoubtedly. You will have to quantify and intimate the jurisdictional Assistant Commissioner, in charge of Division Office as well as Range Officer. You are to work out the exact amount of ce .....

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..... nvat credit you are entitled to. And certify the same and the department may check the exact admissible amount.
Discussion Forum - Knowledge Sharing .....

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