Cenvat creddit
This query is : Resolved
SUHAS M. CHARDE
(Querist)
11 November 2016
Case Study
Sir I have an invoice of input services as on 07/07/2016 this bill recorded in the book as on 09/07/2016 but I don't have output tax liability for next 1 year can i used this cenvat credit after 1 year agenst my exice or services tax liability.
or
If i am not able to record the input tax credit from the bill date i.e 07/07/2016 till the date of 0/07/2017 what is provision regarding cenvat credit.
and
what is the difference between av ailment and utilization.
Sir I have an invoice of input services as on 07/07/2016 this bill recorded in the book as on 09/07/2016 but I don't have output tax liability for next 1 year can i used this cenvat credit after 1 year agenst my exice or services tax liability.
or
If i am not able to record the input tax credit from the bill date i.e 07/07/2016 till the date of 0/07/2017 what is provision regarding cenvat credit.
and
what is the difference between av ailment and utilization.
CA R SEETHARAMAN
(Expert)
12 November 2016
Time limit for availing cenvat credit is one year from the date of invoice but there is no time limit for utilization when it is availed. Availment is just taking credit in the books of account on payment of invoice, utilization is adjusting the credit against payment of excise duty/service tax.
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
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Employee secondment
- IMS (import of goods) ITC related
- GST ITC as per notification 12/2023- central tax
- Gift to nri relatives resides in usa
- Capital Gains Tax on Inherited Mutual Fund
- Form 144 TDS Return Validation Error – Mandatory Fields
- Form 144 TDS Return Validation error
- LLP audit and disclosure
- Applicability of tax on invoice
- Ito add credit side of bank
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
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
