Cenvat credit

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 November 2013 Sir,

as we import input material However our sale is very low now days, we have excess credit available in cenvat from last six month.

my question is can we divert this credit for other duty payment or any other solution regarding this

Suresh Ramaswamy

Suresh Ramaswamy (Expert)
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08 November 2013 Input CENVAT credit can be used to pay off Excise Duty, Service Tax and the CAD of Customs Duty (including cess) irrespective of the source of Input Credit availed. Proper Input documents should be available and maintained.

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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08 November 2013 Agreed with experts. But in case of service tax payment under reverse charge, you have to pay service tax in cash, not adjust with cenvat credit .