2018 (7) TMI 853

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....e 10 of CCR, 2004. Revenue has denied the credit on the ground that the appellant have not obtained the prior permission for transfer of credit and stock of the goods. The shifting of factory was done before surrender of the registration of Silvassa Unit for which no procedure was followed by the appellant. Therefore, the present appeal filed by the appellant. 2. Shri Mukund Chauhan, Ld. Chartered Accountant appearing on behalf of the appellant submits that Rule 10 does not prescribe any permission to be obtained, the only requirement is that the stock of goods such as capital goods, inputs etc., of which credit was availed and lying in stock is transferred to the transferee unit. There is no dispute about this fact that the plant & mach....

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.... 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." As per the reading of the above Rule 10, it is observed that the Rule does not prescribe any procedure to be followed for transfer of the credit lying unutilized from transferred unit to transferee unit. The only requirement is that if any stock of raw-material, capital....