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Increase in time limit for availing Cenvat credit on Input services and Inputs Whether applicable on invoices issued prior to March 1 2015?

Cenvat Credit - By: - Bimal jain - Dated:- 8-4-2015 Last Replied Date:- 10-4-2015 - Dear Professional Colleague, Increase in time limit for availing Cenvat credit on Input services and Inputs - Whether applicable on invoices issued prior to March 1, 2015? Till September 1, 2014, there was no time limit prescribed under the Cenvat Credit Rules, 2004 ( the Credit Rules ) for availment of Cenvat credit. Various Courts have held that in the absence of any time limit prescribed under the Credit Rules .....

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6 months from the date of issue of any of the documents specified in Rule 9(1) thereof, for availment of the Cenvat credit. In this regard, following are the eligible documents specified under Rule 9(1) of the Credit Rules: Invoice issued by a manufacturer, importer, first stage dealer; Supplementary invoice by supplier-manufacturer or service provider, except where such payment was on account of fraud, suppression of facts etc. Bill of entry; A certificate issued by an appraiser of customs .....

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e Trade, raising concerns about applicability of time frame of 6 months in various situations such as: Taking re-credit in terms of the Credit Rules; Invoices issued prior to September 1, 2014; Payment of Service tax paid by service recipient under partial reverse charge etc. Thereafter, on November 19, 2014, the CBEC vide Circular No. 990/14/2014-CX-8 dated November 19, 2014 ( the Circular ) has clarified that the purpose of the amendment made by Notification No. 21 is to ensure that after t .....

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. Once this condition is met, the limitation has no further application. However, it is pertinent to note that the Circular in later part further provides that It is, therefore, clarified that in each of the three situations described above pertaining to Rule 4(7), Rule 3(5B) or Rule 4(5)(a) of CCR, 2004, the limitation of six months would apply when the credit is taken for the first time on an eligible document Thus, even though the CBEC has clarified non-applicability of six months time limit .....

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