TIME LIMITE
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 February 2010
i want to know is there any time limit to utilise the CENVAT input credit
1. Raw material purchased
2. Capital Goods purchased.
1. Raw material purchased
2. Capital Goods purchased.
01 February 2010
Hiiiii
Credit of Cenvat on rawMaterial Purchased can b availed at the time when goods are entered into the factory premises. But this doesnt means that we can not take the credit afterwards. Credit can b taken anytime after the goods entered in Factory even after in the next year...
So as the case with the Capital Goods.
Credit can be taken 50% in the same financial year but again there is no restriction that the 50% credit is to b availed in the yr of purchase. it can be taken anytime.....
Credit of Cenvat on rawMaterial Purchased can b availed at the time when goods are entered into the factory premises. But this doesnt means that we can not take the credit afterwards. Credit can b taken anytime after the goods entered in Factory even after in the next year...
So as the case with the Capital Goods.
Credit can be taken 50% in the same financial year but again there is no restriction that the 50% credit is to b availed in the yr of purchase. it can be taken anytime.....
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