Input credits-urgent

Dear Sivaram,

There is no time limit for availment of credit. However as a measure of prudent policy you may ensure that credits are wtaken within the financial year. The credits should obviously be eligible as per the rules.

There was a decision a month back or so where credit for 7 year was allowed. The point is that when the tax for the past years was demanded the credit for that period also shouldbe allowed - Formica India Division - SC,.

Thank you very much sir

can u give the case law record no please for our refernce

Dear Sivaram,

You should subscribe for the tax india online or excus. Buy a good commentary.

Hi Sivaram,

CENVAT Credit is a prima facie right of an assessee though registration is a formality. Still one can utilise the credit only after registration.