Cenvat credit

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SHIVANGI (Querist)
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15 December 2014 IN RESPECT OF THE NOTIFICATION, 6 MONTHS TIME PERIOD IS FOR CLAIMING CREDIT IN THE RETURN OR FOR UTILIZING IT AGAINST OUTPUT??

CA Robin Betala

CA Robin Betala (Expert)
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15 December 2014 for utilizing it against output services

SHIVANGI

SHIVANGI (Querist)
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16 December 2014 If i have balance input credit of Rs 1200000/- in my service tax return filed in Oct 2014 and i know that i ll have no other output services till Dec 2015 then what should i do??

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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16 December 2014 The time limit prescribed is for AVAILING the CENVAT credit. There is NO time limit for utilizing the CENVAT credit.

SHIVANGI

SHIVANGI (Querist)
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16 December 2014 Sir i am confused now.

SHIVANGI

SHIVANGI (Querist)
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16 December 2014 Sir i am confused now.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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16 December 2014 Newly inserted proviso to Rule 4(7) provides that the manufacturer or the provider of output service shall not TAKE CENVAT credit after six months of the date of issue of any documents specified in sub-rule (1) of rule 9.

Accordingly the limit specified is for AVAILING CENVAT credit & NOT for utilizing it.

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