An organisation was forget to take credit on bill of Service Tax. Now after how many period can take credit is possible as per law and what entry can pass. Please provide provision.
Lalit Nyati (Student) (487 Points)
20 January 2014An organisation was forget to take credit on bill of Service Tax. Now after how many period can take credit is possible as per law and what entry can pass. Please provide provision.
Arun Kumar Singh
(GST Advocate)
(15188 Points)
Replied 20 January 2014
There is not time limit for availing cenvat credit. It can be taken even after 3 to 7 years - Coromandal Fertilisers Vs. CCE(2009) 239 ELT 99 (CESTAT).
CA Rajnik Galani
(prctice)
(154 Points)
Replied 20 January 2014
In Rule And Act No Any Provision Made For Claming Excise Credit Period
If Bill With In Financial Year Than You Definately Take Credit
Thank You
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
