Transfer of Balance Cenvat Credit on Account of Britco Foods Company to Hindustan Coca Cola Beverages Ltd is allowable on confirmation of merger: CESTAT [Read Order]
The Tribunal observed that the Modvat/Cenvat credit which was lying in the balance of M/s. Britco stand transferred to M/s. Hindustan Coca-Cola Beverages Limited from the date of the merger of two entities which was effected vide order dated 10.09.1999
The Ahmedabad bench of the Customs, Excise And Service Tax Appellate Tribunal ( CESTAT ) has held that the transfer of balance cenvat credit on account of Britco Foods Company to Hindustan Coca-Cola Beverages Ltd is allowable on confirmation of the merger. M/s. Britco Foods Company Limited (M/s. Britco) merged with the appellant under Companies…
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