TMI BlogFirst Stage Dealer - Change In Constitution from Proprietor to partnershipX X X X Extracts X X X X X X X X Extracts X X X X ..... I have one query regarding consequences / procedure to be followed in case of change in constitution of first stage dealer from Proprietorship to partnership. The case is proprietor is already running business as a first stage dealer and now has transferred his all asset and liability to newly formed partnership firm in which he is also a partner. My query is in such a situation how can proprie ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tor transferred closing stock and balance of excise to the partnership firm? Plz guide me. mail id cafenilsanghavi@gmail.com - Reply By MUKUND THAKKAR - The Reply = just change your registration details by adding the all partner name and submitted to dept. and also intimate the concern range / division along with the copy of changes. if any changes in name follow the same procedure. - Reply ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... By KASTURI SETHI - The Reply = Sh.Fenil Sanghvi Ji, In your case PAN will be changed. If PAN is changed new registration no. will be issued. Go through Point No. 9 10 of Notification No.7/15-CE(NT) dated 1.3.15 which is appended below:- (9) Transfer of Business or acquisition of factory : Where a registered person transfers his business to another person, the transferee shall get him ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... self registered afresh. Where an applicant has acquired an old factory from a Bank or a Financial Institution, he shall get himself registered afresh. (10) Change in the Constitution : Where a registered person is a firm or a company or association of persons, then in the event of any change in the constitution of the firm leading to change in PAN, he shall get himself registered afresh. In o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ther cases of change in constitution of business, where there is no change in PAN, the same shall be intimated to the jurisdictional Central Excise Officer within thirty days of such change by way of amendment to the registration details to be carried out online in website www.aces.gov.in and this will not result in any change in the registration number. Further first clear all the goods ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and bring the stock to NIL and, thereafter, apply for afresh registration. This is the best way. - Reply By Ganeshan Kalyani - The Reply = Sir, in nutshell if there is change in PAN then new excise registration number is required to be taken and if not then by the certificate can be amended with the new details. Thanks. - Reply By fenil sanghvi - The Reply = But sir, Issue is that ther ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e is few slow moving stock having much more value. And they want to transfer the same to the new organization i.e. partnership firm. Hence, can they transfer the stock without raising excise invoice and just intimating the concerned officer regarding change in constitution? - Reply By KASTURI SETHI - The Reply = Invoice has to be raised. No excisable goods can be removed/transferred from a facto ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ry or warehouse or depot etc. without invoice in terms of Rule 11 of CE Rules,2002 . - Reply By Ganeshan Kalyani - The Reply = Sir, I agree with Sri Kasturi Sir's view, without raising excise invoice removal of goods is not permissible as per rule. Thanks. - First Stage Dealer - Change In Constitution from Proprietor to partnership - Query Started By: - fenil sanghvi Dated:- 26-5-2016 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Central Excise - Got 6 Replies - Central Excise - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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