Cenvat creddit
This query is : Resolved
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.
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
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- Taxable or Tax exempt
- TDS Deducted AY-2013-14 Not Reflected in 26as
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- ADVANCE PAYMENT OF ADVOCATE
- NRI starting business in India
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- Query – TDS on purchase of land from NRI under Income-tax Act, 2025
- GST not cancelled by tenant
- 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
