A Mr.X had "taken" Cenvat credit but did not "utilise" it for payment of service tax, thus there was closing balance of cenvat credit in ST3 Return of previous quarter.
But even for current quarter, Mr.X still did not "utilise" the previous quarter's closing balance of cenvat credit, so balance of cenvat credit is still carried forwarded in ST3 Return.
So, my question is whether any time limit is there for "utilising" this cenvat credit? Does the Cenvat Credit Rules state any time limit?
If the time limit for "utilising" cenvat credit is indeed unlimited, how do we infer it?
CAclubindia
