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Central Excise - Highlights / Catch Notes

Home Highlights February 2015 Year 2015 This

Refund of unutilized credit - In the event of the factory being ...


New Factory Owners Can Transfer Cenvat Credit u/r 10, But No Cash Refund for Unused Credit.

February 9, 2015

Case Laws     Central Excise     AT

Refund of unutilized credit - In the event of the factory being taken over by another person, and resuming production, Rule 10 permits the transfer of cenvat credit to the new owner subject to certain conditions. But there is no provision for cash refund of such unutilized credit. - AT

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