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SUMIT KASHYAP (DU)     26 June 2013

Cenvat credit under reverse charge mechanism

ONE OF MY CLIENT HAS NOT AVAILED THE INPUT TAX CREDIT OF SERVICE TAX UNDER REVERSE CHARGE MECHANISM,IS HE ALLOWED TO AVAIL IT IN SECOND QUARTER ON CUMULATIVE BASIS i.e,FOR BOTH QUARTER AT ONE TIME...........PLEASE REPLY ITS URGENT.



 8 Replies

Dinesh CA CMA

Dinesh CA CMA (CA CMA )     27 June 2013

Normally cenvat credit cannot be availed on service tax paid under reverse charge mechanism.
CA. Kuldeep Singhi

CA. Kuldeep Singhi (Entrepreneur)     27 June 2013

Ya bro CCR can be availed by as per CCR,04
Ankit Agarwalla

Ankit Agarwalla (CA)     27 June 2013

Yes. Cenvat credit can be availed at any time. There's no time limit prescribed.
Saurabh Maheshwari

Saurabh Maheshwari (B.com,ACA)     27 June 2013

As per Rule 9(1)(e) of CCR,2004 Cencvat credit of ST paid on reverse chrge can be taken and utilised for paying ST and Central excise. and there is no time limit prescribed for taking and utilisng the same......so credit will not lapse and can be taken now consolidatedly........

Saurabh Maheshwari

Saurabh Maheshwari (B.com,ACA)     27 June 2013

As per Rule 9(1)(e) of CCR,2004 Cencvat credit of ST paid on reverse chrge can be taken and utilised for paying ST and Central excise.....and credit will not lapsed even if not taken immedaitely ....aad can be taken in next qtr or any time...

navinkumar naicker

navinkumar naicker (Article)     27 June 2013

Agree with saurabh maheswari can take cenvat credit once the service tax  under RCM is paid.

sanjay singhal

sanjay singhal (CA)     29 June 2013

Yes credit can be taken. Document to be used for credit will be Gar 7challan.
pardeepharnakiya

pardeepharnakiya (M.Com)     11 July 2016

Can we claim refund of Service Tax paid under RCM

 


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