Time Limit to Utilisation of Cenvat Credit

This query is : Resolved 
 


Querist : Anonymous (Querist) 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.


Querist : Anonymous (Querist) 24 May 2010

Thanks



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