2018 (2) TMI 1307

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ferred the entire equipment and materials of unit-IV to their unit-III. Consequently, they sought to transfer the entire credit available in their accounts to unit -III in terms of Rule 10 of the CENVAT Credit Rules, 2004. He pointed out that they had written a letter to the Assistant Commissioner, Division-I, Silvasa with copy of Assistant Commissioner, Central Excise Division-III, Silvasa intimating their intention to transfer the said credit in terms of Rule 10 of the CENVAT Credit Rules. They also annexed to the said letter, the list of equipment that they had intended to transfer and also the extracts of their CENVAT Credit account. Learned Counsel pointed out that proceedings were initiated against them to deny the CENVAT Credit and i....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....edit when they opted for following Notification No. 30/2004-CE. 4. We have gone through the rival submissions. We find that Rule 10 of the CENVAT Credit Rules, 2004 reads as under: - "Rule 10. Transfer of CENVAT credit. - (1) If a manufacturer of the final products shifts his factory to another site or the factory is transferred on account of change in ownership or on account of sale, merger, amalgamation, lease or transfer of the factory to a joint venture with the specific provision for transfer of liabilities of such factory, then, the manufacturer shall be allowed to transfer the CENVAT credit lying unutilized in his accounts to such transferred, sold, merged, leased or amalgamated factory. (2) If a provider of output service shi....