procedure of registration where, running unit is to be purchase

[shanker bansal]

sir

there are one excisebale unit which is running in a rented premises and in shut down process.

we want to purchase machine from that unit and to establish our new unit at sale rented premises.

now i wants to know what is the procedure for surrender the rc of old unit...purchasing the machine so that i can avial the modvat and the procedure for registration of my new unit.

my difficulty is that how i can register my unit at same address where already one unit is running.

pl guide me ..

thanks

09295956446

AI Summary

Guidelines for Machinery Purchase: Surrender RC, Avail MODVAT, Register New Unit Under Sections 391-394 Companies Act A user inquired about the procedure for purchasing machinery from an excisable unit in a rented premises that is shutting down and establishing a new unit at the same location. They sought guidance on surrendering the registration certificate (RC) of the old unit, availing MODVAT, and registering the new unit. The response advised that if the takeover is under a Slump Sale per Sections 391-394 of the Companies Act, an agreement must be submitted to the authorities along with a new rent agreement and a list of capital goods. The user must apply online for registration with the Central Excise Department and surrender the existing RC. The same procedure applies under the HVAT Act, 2003.