Mukeshh Agarwal (E-solutions) (129 Points)
08 July 2014Dear All,
I have a query regarding availing of Excise Cenvat.
Say the party has billed the excise invoice on 30th June 2014 and I have received the goods on 3rd July 2014.
So what should be the appropriate date/month to avail the Cenvat credit. Will it be June or July.
Thanks in advance !!
Regards
Venkatanarayana GM
(Partner associate at Hiregange & Associates)
(1279 Points)
Replied 08 July 2014
Dear sir,
Receipt of goods is very important for availing credit (i.e why the credit is eligible on transporter copy).
Rule 4 of CCR "RULE 4. Conditions for allowing CENVAT credit. — (1) The CENVAT credit in respect of inputs may be taken immediately on receipt of the inputs in the factory of the manufacturer or in the premises of the provider of output service,,
Further i would like to mention that there is no time limit for availing credit unilke local sales tax.
Ajay Raghatate
(Sr Executive (Excise & Accounts))
(736 Points)
Replied 08 July 2014
You have receive the goods in the month of July, so you are eligible to avail credit in the month of July
CA Yugal Purohit
(Chartered Accountant)
(206 Points)
Replied 08 July 2014
ashish
(article assistant)
(21 Points)
Replied 08 July 2014
S.GANESAN
(AUDIT MANAGER)
(110 Points)
Replied 08 July 2014
You can avail the CREDIT after receipt of the Goods.
There is no time limit for that.
Brahma Nand
(Finance associates)
(63 Points)
Replied 09 July 2014
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