Carryforward of Cenvat credit
This query is : Resolved
Krishna Murty
(Querist)
18 December 2009
One of my claint is having service tax registration.As a service provider one year he is having taxable turnover and one he is not having taxable turnover.Even if he is not having taxable turnover is it possible to carryfoward cenvat credit.Is there any time limit to carry forward the Cenvat credit.Kindly clarify.
Kishanlal Paliwal
(Expert)
19 December 2009
Yes, he can carry forward the Cenvat since the registration is active. The tax liability is consequent to the volume of business, it make no difference for cenvatability status.
Regards
Regards
CA Sanjeev Kr Jain
(Expert)
20 December 2009
cenvat credit can be carried forward only if the tax is paid on output services, if you are small service provider or enjoing composition scheme that no cenvat credit
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