Input service tax credit if assesse failed to file the return in due time

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Anand Singh (Querist)

06 July 2007 A manufacturer who is liable to pay Excise duty and is regularly taking cenvat credit on input has failed to take Cenvat credit on Input services since last 18 month as it was not aware of that.
Since it has failed to take the credit can he do so now. If yes then how and what is the possible consequence.

Regard
Anand Singh

Vvenkat Raman

Vvenkat Raman (Expert)

06 July 2007 The Service tax credit can be taken for the past 18 months. As in the Cenvat Credit Rules, there is no time limit specified for taking cenvat credit. But you will have to ensure that the service tax credit is of ths said period does not fall before 10.09.2004. As cenvat credit of service tax is admissible only from 10.09.04.

CA Prasanna Krishnan V

CA Prasanna Krishnan V (Expert)

06 August 2007 Dear Sir

There is some technical issue therein. Since the returns filed hitherto did not contain any data about the service tax credit in all these 18 months, your AO may deny to accept your 'sudden' claim.

Yet please try the same after intimating in writing to your jurisdictional AO.

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