Availment of Cenvat credit after transfer

[DR.MARIAPPAN GOVINDARAJAN]

THIS IS WITH REFERENCE TO THE SUBMISSION OF SHRI ANIL BAHI. THE UNITS HAVING SERVICE TAX REGISTRATIONS ARE MERGED AS FOUR CENTRALISED UNITS THEY CAN TRANSFER THE CREDIT AND CAN AVAIL THE CENVAT CREDIT.

[Surender Gupta]

Yes, I agree with Mr. Govindrajan's view that new unit after merger can utilize the closing balance of cenvat credit of the merging units after transferring the same as per rule 10 of Cenvat Credit Rules, 2004.

[SUBHASH AGARWAL]

Whether the Company is required to file pending forms before proceeding for Exit Scheme

AI Summary

Cenvat Credit Transfer Approved Post-Merger Under Rule 10; Filing Pending Forms for Exit Scheme Left Unresolved. A discussion on the availment of Cenvat credit post-merger involves a query about units with service tax registrations merging into four centralized units. It is agreed that the new unit can utilize the closing balance of Cenvat credit from the merging units by transferring it according to Rule 10 of the Cenvat Credit Rules, 2004. Another query raised concerns whether the company must file pending forms before proceeding with an exit scheme, but no detailed response is provided in the text.