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EXTENDED TIME FOR CENVAT CREDIT

Service Tax - By: - Dr. Sanjiv Agarwal - Dated:- 26-3-2015 Last Replied Date:- 27-3-2015 - Change w.e.f. 1 September, 2014 Vide Notification No. 21/2014-CE(NT) dated 11.07.2014, after the second proviso in Rule 4(1) of the Cenvat Credit Rules, 2004, the following proviso was inserted for the first time to fix time limit to avail Cenvat credit - Provided also that the manufacturer or the provider of output service shall not take Cenvat Credit after six months of the date of issue of any of the do .....

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ated prior to 01.09.2014 shall also be subject to such time restriction. For example, if Cenvat credit is not yet taken for a bill dated 01.07.2014, such credit could be availed only till 31st December 2014. Change w.e.f. 1st March, 2015 W.e.f. 1st March 2015, time limit for availment of Cenvat Credit has been extended to one year from the date of invoice. This implies that Cenvat credit on inputs and input services which could be earlier (as provided for w.e.f. 01.09.2014) availed within the pe .....

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