Transfer of unutilised Modvat Credit in case of merger/amalgamation of a Company with another Company - Clarification reg.

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....No. 263/9/92-CX.8] Government of India Ministry of Finance (Department of Revenue) Central Board of Excise & Customs, New Delhi Subject : Transfer of unutilised Modvat Credit in case of merger/amalgamation of a Company with another Company - Clarification reg. During the recent Customs and Central Excise Advisory Council Meeting held on 07-11-1992, it was represented by various trad....

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....licable to a manufacturer factorywise. Under the existing Rules transfer of unutilised credit lying in RG-23A, Part-II is permissible under the following conditions/circumstances :- (i) Under Rule 57F (6) on an application made by a manufacturer, who has shifted his plant or factory to another site, the Collector can permit the manufacturer to transfer the unutilised credit to such factory of t....