Cenvat credit by 100% eou

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XYZ limited is 100% EOU.It has availed cenvat credit of excise and service tax paid on input good and services.Pls clarify about refund of cenvat credit (timelimit,amt etc).if refund is not taken can the company use it for payment of duties after debonding against duty payble on local sale

Replies (4)

Hello Soniya,

You can claim the Refund within one year of availament. You can apply for the refund on quarterly basis which was certified by a CA.

You can use such unused credit against the future liablities and there is no requirement for debonding. You can avail the 100% credit on EOU transactions and use the same for payment against Domestic sale.

Thanks,

Suri

Originally posted by : CA Suri Kota

Thank you sir,

I just want to confirm 

is there any time limit for utilisation of cenvat credit?

 

There is no time limit for utilisation of cenvat credit

within one year we need to utilise


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