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Service tax credit

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Querist : Anonymous

Querist : Anonymous (Querist)

15 December 2011 AS PER NEW RULE OF CENVAT CREDIT THE RECEIVER OF THE SERVICE CAN TAKE THE CREDIT OF THE SERVICE TAX AS HE RECEIVED THE BILL BUT SAME CREDIT WILL BE REVERSED IF THE PAYMENT OF THE BILL IS NOT MADE WITH IN 90 DAYS. NOW I WANT TO KNOW FROM WHICH OF THE FOLLOWING DATE WE SHOULD CONSIDER THE 90 DAYS PERIOD-:

1. INVOICE DATE
2. DATE OF RECEIPT OF BILL
3. DATE ON WHICH CREDIT WAS TAKEN

PUNEET GOYAL

PUNEET GOYAL (Expert)
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15 December 2011 In proviso to Rule 4(7) of CENVAT credit Rules, 2004, it is provided that if payment is not made within 3 months from the date of invoice, bill etc.....

Therefore relevant date is date of invoice.

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