Balance of credit tax

[sachin borkar]

Dear Sir ,

                 Please guide me on following queries . Your assistance will be appreciable.

In case of surrender of registration , what I have to do for balance of excise duty , service tax & PLA . Can I ask for refund for that or any other process to be used.

Explain briefly.

[YAGAY and SUN]

Dear Sachin,

You may seek refund from the Department for accumulated CENVAT credit on the closure of your manufacturing units.  You would have to submit a written application in this regards before the concerned authorities.

Regards

Team YAGAY & SUN

(Management & Indirect Tax Consultants)

[Arun Kumar Singh]

At the time of surrender of registration on the closing stock you should reverse the cenvat credit.

AI Summary

CENVAT credit on surrender: refund may be sought or credit must be reversed for closing stock on registration surrender.
On surrender of registration, accumulated CENVAT credit on closure can be addressed by seeking a refund through a written application to the authorities, or by reversing the CENVAT credit on closing stock at the time of surrender.