Cenvat
This query is : Resolved
26 July 2014
latest amendment in cenvat credit
26 July 2014
Cenvat credit lapses if not taken within six months from date of duty paying document
As per proviso to rule 4(1) and sixth proviso to rule 4(7) of Cenvat Credit Rules (inserted w.e.f. 1-9-2014), Cenvat credit must be taken within six months from date of issue of any duty paying document
(invoice, bill of entry, GAR-7 challan etc. as applicable).
.
.
.
.
Note that time limit is only for ‘taking credit’. There is no time limit for utilisation of Cenvat Credit. Once you ‘take’ Cenvat credit in your records, you can utilize it any time without any time limit.
As per proviso to rule 4(1) and sixth proviso to rule 4(7) of Cenvat Credit Rules (inserted w.e.f. 1-9-2014), Cenvat credit must be taken within six months from date of issue of any duty paying document
(invoice, bill of entry, GAR-7 challan etc. as applicable).
.
.
.
.
Note that time limit is only for ‘taking credit’. There is no time limit for utilisation of Cenvat Credit. Once you ‘take’ Cenvat credit in your records, you can utilize it any time without any time limit.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Reopen of assessment proceeding
- Depreciation of fixed assets- coop housing society in mumbai
- TDS on Consultancy- Non DTAA
- Rental income gst and it purpose
- Gift Received from nonblood relative
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Experts need help
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Management System (IMS)
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
