Revised Retun

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

08 June 2010 I have filed an Original Return for F.Y.2008-09 & 2009-10 under wrong head and not taken a CENVAT credit also in such return. The time elapsed is two years now i come to know my mistake and want to revise the return under right head for both the years and take CENVAT credit.

How can i do it.

Kindly suggest the possible option at earliest.

Jagdish Bhalia

Jagdish Bhalia (Expert)

08 June 2010 Return could be revised only if the same has been filed with in the limit prescribed in section 139(1).

Return could be revised at any time before the expiry of one year from the end of the relevant assessment year or before completion of assessment, whichever is earlier.

In your case you could not revise the return of 2008-09 due to revision time 31.03.2010 has been lapsed.

But you can revise the return of 2009-10 upt 31.03.2011.

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)

08 June 2010 Dear Mr. Bhatia, Question for revised return is related to Excise , not for income tax

CA. Gurdeep Singh Chawla

CA. Gurdeep Singh Chawla (Expert)

08 June 2010 Question for revised return is related to Service tax

Querist : Anonymous

Querist : Anonymous (Querist)

09 June 2010 The query was for Service Tax Return and not INcome Tax Return.

Nilesh

Nilesh (Expert)

09 June 2010 Dear Sir

There is no provision in the law for revision of service tax return beyond 90 days from the date of filing of service tax return.

With respect to your question Cenvat credit, there is no-time limit for availing Cenvat credit and you can avail Cenvat credit. However, this position could be litigated at lower authorities.

Trust the above is useful.

Thanks

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