Dear Sirs,
Pls. provide your valuable information regarding below queries.
Sir, we have 3 MFG Units in AP (A,B&C) unit A is Big unit unit C is small unit now we are closing small unit C we transfer the all finished and semi finished and all inputs to our unit A with payment of Excise duty, but some unutilised Cenvat credit closing balance is ther at unit C, now query is,
1. can we transfer the unutilised Cenvat credit balance amount from unit 'C' to unit 'A'?
2.shall we apply for refund of unutilised Cenvat credit closing balance of unit 'C'?
pls. do needful in the above mater. BENARJEE GOVADA
Transferring Unutilized Cenvat Credit: Guidelines for Shifting Manufacturing Units Under Cenvat Credit Rules, 2004 A query was raised regarding the transfer or refund of unutilized Cenvat credit from a closing manufacturing unit, Unit C, to another unit, Unit A. The response outlined that under the Cenvat Credit Rules, 2004, credit can be transferred when a factory is shifted. It advised moving materials from Unit C to Unit A with duty payment and updating necessary documents. After shifting, the party can request approval from the relevant authorities to transfer the unutilized credit to Unit A. It was also recommended to notify the authorities in advance about the unit transfer. (AI Summary)
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