Cenvat credit utilization

Dear Sir,

I was  working in a Software company as an Accounts Exicutive for last five months, while preparing the audit peport ,  noticed that the  company got their cenvat credit till the f.y 2012-13, but no entry was maid in the accounts till 2014-15. So my question is can i pass the  cenvat credit entry ? If yes how can I pass the entry.

I am awating to your kind reply.

 

Thanks  & Regards

Atanu Banerjee

kolkata- 700091

 

Replies (4)

At present CENVAT Credit can be availed only up to one year from the date of invoice. On older then that bill you can not avail cenvat credit.

prepare the reconciliation statement along with the working and the same you have to submit to commercial department., they will allow if its initial stage based on you request 

We pay CVD on import of CAPEX item;

These CAPEX items are used for revenue generation on which Service Tax is applicable.

Can this CVD be availed as Input Credit for set off against ST liability? 

 

As per rules you must accout the taken Cenvat. If any discrepqany arises then you must pay the Cenvat taken by you.

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