transfer of finished goods on de-merger.

[PRANAB PANDA]

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 maintaining 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 / coal tar from the Daily Stock Register of our unit to newly formed entity.

AI Summary

Stainless Steel Plant De-merger: Transfer Stock and Avail Cenvat Credit with Section 11B Compliance An integrated stainless steel plant is undergoing a de-merger, transferring its coke oven facility to a newly formed entity, requiring separate excise registration. The query concerns transferring the closing stock of coke and coal tar to the new entity. An expert advises notifying the jurisdictional Range Officer before transferring stock, using regular invoices marked 'Stock transfer,' and maintaining detailed records. The query also asks if the new unit can avail cenvat credit based on the stock transfer invoices. The expert confirms this, advising to quantify and notify the jurisdictional Assistant Commissioner and Range Officer, certifying the cenvat credit amount.