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Querist : Anonymous

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Querist : Anonymous (Querist)
01 December 2014 Can we take the credit of Service Tax of Oct'14 paid in Nov'14 against Receipt of Service Tax for the month of Nov'14?
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CA Kumar Mukesh

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CA Kumar Mukesh (Expert)
02 December 2014 You can take Cenvat Credit upta the date of last day of month or quarter, as case may be .
For example Cenvat credit balance lying as on 20th November can be utilized for the payment of Excise Duty or Service Tax for the month November
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Querist : Anonymous

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Querist : Anonymous (Querist)
02 December 2014 Is cenvat credit depends on Payment basis?
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CA Kumar Mukesh

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CA Kumar Mukesh (Expert)
02 December 2014 No Cenvat Credit can be taken as on receipt of Invoice and Service/material.

However, in case Services Inputs payments need to be paid withing six months from the date of invoice. if payment is not made within 6 month cenvat credit taken earlier need to be reversed as per proviso to rule 4(1) of cenvat credit rules
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