Cenvat credit

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 August 2014 Dear Sir/Mam,

i have not taken cenvat credit of service tax paid and i have paid the service tax amount.Can i claim that input credit as my IT return is not yet filed.If yes Please Specify the Rule Or ACT.

Annu Agarwal

Annu Agarwal (Expert)
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02 August 2014 At present there is no time limit for utilizing the input service tax credit.If you hav not taken the cenva credit in previous months,you can take the same now and adjust it against your service tax liability on output services.
Please refer the case law of Vijayanand Roadlines Vs CCE

Querist : Anonymous

Querist : Anonymous (Querist)

02 August 2014 That means I can decrease the amount of expenses and show the amount of input credit as a part of current assets which can be claimed in F.Y 2014-15 even though the input was on the services that I received for the period in F.Y 2013-14. Am I right?

Annu Agarwal

Annu Agarwal (Expert)
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02 August 2014 Yes ,you got it right.

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