What exactly the time limit for taking the CENVAT credit on inputs / capital goods, any specific notification or circular ?.
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What exactly the time limit for taking the CENVAT credit on inputs / capital goods, any specific notification or circular ?.
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The claim of cenvat credit is linked with the refund claim under section 11B of the Central Excise Act, 1944. Earlier the period of limitation was six months therefore, courts have allowed credit within the period of 6 months. Now the period of claiming refund is one year, you can claim the credit accordingly within one year on Inputs. However, in case of capital goods, the period of claiming cenvat credit may be more than one year but various other aspects are required to be looked into such is whether you have claimed depreciation or whether you were claiming exemption at the time of receipt of capital goods etc. etc.
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