Change in Properitor ship

[Rahul Sonawane]

Dear Sirs,

We are a properitor registered under Central Excise , if we wish to change in the properitor ship, please guide us on following

1) Whether we need to surrender the existing C.E registration and apply for new C.E registration.

2) or what procedure we need to followed.

Thankimg you in anticipation.

 

AI Summary

Cenvat credit transfer requires transfer of inputs and capital goods and proper accounting to retain unutilised credit.
Change of proprietorship requires surrender of the existing Central Excise registration and application by the new proprietor for fresh registration. Transfer of unutilised CENVAT credit is permitted only if inputs, work-in-process, finished goods or capital goods are transferred with the business and the items on which credit was taken are duly accounted for to the satisfaction of the Deputy/Assistant Commissioner; otherwise the credit lapses.