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Cenvat credit

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This query is : Resolved

student (Querist)
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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.

Ajay Raghatate

Ajay Raghatate (Expert)
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16 July 2014 It is related to availment of cenvat credit only.

VAMSI ASSOCIATES/S.PHANI RAJ

VAMSI ASSOCIATES/S.PHANI RAJ (Expert)
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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

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