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Time Limit to Utilisation of Cenvat Credit (Service Tax)

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This query is : Resolved

Author : Anonymous

( Author )
14 April 2010

Is there is any time limit for utilisation of Cenvat Credit received on Input and Capital Goods


sachin alwadhi

( Expert )
14 April 2010

yes,for input immediately and capital goods 50% in current year&50% in next financial year.


CA. BIJENDER KR. BANSAL

( Expert )
14 April 2010

Excise credit on input can be taken immediatley and on capital goods, it is 50% in current year and 50% in next finanical year.
But there is no limit on utilization of cenvat credit. You can utilize it any time as and when you required it.


sachin alwadhi

( Expert )
15 April 2010

yes agree with MR.bansal.because there is differences between take and utilisation.


Author : Anonymous

( Author )
24 May 2010

Thanks


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