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UTILIZATION OF CENVAT CREIT OF ST AND ED BEYOND 6 MONTHS AND 1 YEAR

Central Excise - Started By: - prathit maini - Dated:- 24-7-2015 Last Replied Date:- 20-8-2015 - DEAR SIR ,PLZ GUIDE ME WHETHER WE CAN AVAIL CENVAT CREDIT OF EXCISE DUTY AND SERVICE TAX BETWEEN PERIOD DATED 1-SEP-14 TILL 31-MARCH -15 OF INVOICES WHOSE DATE IS MORE THAN 6 MONTHS OLD .AND FROM 1-4-15 WHOSE INVOICE DATE IS MORE THAN A YEAR OLD .PRATHIT MAINI - Reply By Arun Kumar Singh - The Reply = Now the time limit of taking cenvat credit is one year from the issuing of invoice with effect from .....

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sh Goyal - The Reply = Dear Prathit, For the invoices raised up to 28th February 2015, the time limit of six months will apply. For invoices raised on or after 1st March 2015, the time limit of one year will apply. As pointed out by Mr. Prathasarathy, the said limit is for taking the credit and not for utilizing the same. i.e. the credit needs to be reflected in the return within the above time limits. Once the credit has been taken, then there is no time limit for utilizing the same to discharg .....

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will be capable of being utilized till this date, post which the credit cannot be utilized as there will be no output liability of cess. Cess charged on inputs/ input services received post 1st March 2015 (in case of manufacturers) is eligible as per notification no 12/2015 - CE. Also note that in case there is credit of cess pending to be utilized as on the above mentioned dates, then you may avail the same by reflecting in the returns and carry forward the same. In case there is any old matter .....

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