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Cenvat creddit

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(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.


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CA R SEETHARAMAN

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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.
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