Cenvat credit utilization

Sridhar (Student CMA) (77 Points)

03 January 2014

Dear frnds and experts, Can we claim the cenvat inputs that took place before the excise registration ?

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8 Replies

Shivashish (Chartered Accountant) (2796 Points)
Replied 04 January 2014

Probably yes, if you are paying tax for such period then cenvat credit shall be available for such period(quantity used in manufacturing goods on which tax is payable)

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Sridhar (Student CMA) (77 Points)
Replied 04 January 2014

Thank you Mr.Shiva. But any clearance made before the registration can't be charged duty in our invoice. So I had a doubt whether we can utilize or not !

Jatin Gupta (Student) (30 Points)
Replied 04 January 2014

You cant charge duty in your previous invoices but if department is charging duty from you for the previous period then u can also avail credit benefit.

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karan jit singh (Consultant) (1299 Points)
Replied 04 January 2014

You can claim Cenvat Cr (undoubtly) and accordingly you have to charge ED on invoice.

No Cenvat cr of Inputs and services are available if you are excercising 8/2003 i.e.(SSI exemption).

In such case you can claim Cr. on capital goods.

Sridhar (Student CMA) (77 Points)
Replied 04 January 2014

Thank you Mr.Karan. For instance my excise reg date is 20/9/13. Can I avail the credit from purchases before 20/9/13 assuming no sale has taken til tat date !!

karan jit singh (Consultant) (1299 Points)
Replied 04 January 2014

YEAH SURE..you can enter accordingly in Register 23A without any worry

Sridhar (Student CMA) (77 Points)
Replied 04 January 2014

Thank u sir. Thanks a lot

Harendra Kumar (Tax Advisor ) (1211 Points)
Replied 05 June 2014

Sir,

In this regard my queries that if a person availed the SSI exemption then how can they charge the excise duty and how can also availed the Cenvat Credit in this regard.