Cenvat credit amendment applicability

As it is not clear so that it is safe to avail input and input service which is old more than 6 month and related to before 1 sep 2014.

Dear Hegde,

Please go ahead & avail. only from this budget the restrication is been imposed . But, however before that there was no restriction on the same. hence the same can be availed. In this regard there are few case laws reported which says, the assessee can go back upto 3 to 5 yrs and avail the credit.

Thanks

Venkat

Dear Venkat

We have some cenvat related to Fy 2010 to 2013 which has not been claimed. Now we want to claim that. But due to practical difficalty we cannot claim it this month. We cannot ascertain the actual amount this month. It takes time to ascertain the amount. So we are planning to claim those cenvat in the successive months. (i.e., September onwards) But i m afraid of the amendment effect.

Hellow,

 Is it OK to take input credit even though the payment is not made

to the service provider ? Is there any time limit to make payment

after taking input credit. Please clarify.

mala

You can avail Cenvat Credit for any past period on eligible input or input service only up to 31-08-2014. W.E.F. 01-09-2014, you won't be allowed cenvat credit for any Invoice issued before 01-03-2014 as the cenvat is requird to be availed within 6 months of date of invoice. So, this is your last opportunity to avail credit for earlier periods.

Kindly email for further clarifications.