Cenvat credit rules 2004

Jigar (Finance Analyst) (25 Points)

27 November 2014  

Hi Experts,

As per provision of input service , the credit needs to be reversed if value of input service and service tax payable not paid within 3 months   of the date of invoice/bill/challan.

please explain the provision and consequences. Also, how we can verify if the service provider from whom the input service is taken has paid the tax due withing 3 months.

your help is appreciated.