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Cenvat brought forward in new finanacial year ?

Balendra Parmar (Finance Manager) (199 Points)

02 May 2012

Dear Sir,

We have lot of cenvat credit in preceeding financial year. we want to carry forward balance in the new financial year. We will do it ?

Regards,

Balendra k Parmar.

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7 Replies

Arun Kumar Singh (GST Advocate) (15188 Points)
Replied 02 May 2012

yes you can carry forward.

CA. Nayan Kahar (Chartered Accountant) (29 Points)
Replied 02 May 2012

yes you can carry forward the balance....

vijay tanna (CA) (32 Points)
Replied 02 May 2012

yes U can carry forward cenvat and its always better rathar claiming refund..

Ki$hor B (Training & Advisory) (3015 Points)
Replied 03 May 2012

for how many FYs can the cenvat be c/f ?

Sunil Kumar G (AGM Taxation) (373 Points)
Replied 04 May 2012

If you are an exporter and credit accumulated due to export, you can claim refund under Rule.5 of Cenvat Credit Rules 2004. Or you don't want refund, you can c/f to the Current year.

You can c/f "n" number of years.

Lalit Sangani (M.Com. Asst. Manager Account) (731 Points)
Replied 04 May 2012

yes you can carry forward and remember one more thing If you have Credit of Capita goods - 2nd 50% of financial year 2011-2012 you can carry forward in current financial year and utilise too.