13 July 2014
Time limit for taking credit on input and input services: credit shall be taken within six months from the date of the invoice or challans or other documents specified [change to have effect from 1st September, 2014].
Pl clarify that whether its related to taking credit or utilisation of credit.If its related to taking credit then whats the purpose of this provision.
18 July 2014
IT IS ONLY FOR TAKING CREDIT BUT NOT AVAILMENT
BECAUSE IF WE FORGOT TO TAKE CREDIT OF ANY ONE INVOICE NOW WE ARE GOING TO TAKE CREDIT IF THE INVOICE DATE IS MORE THAN 6 MONTHS THEN WE HAVE NOT TO TAKE CREDIT IF IT IS BELOW 6 MONTHS THEN WE HAVE TO ELIGIBLE TO TAKE CREDIT THE ABOVE PROVISION IS APPLICABLE FOR TAKING OF CREDIT ONLY BUT NOT UTILISATION IF WE ARE HAVING SUFFICIENT CREDIT BALANCE THEN THERE IS NO QUESTION OF UTILISATION OF THIS INVOICE
CAclubindia
