Payment in case of cenvat

CA Manoj Kumar (Job) (55 Points)

12 April 2013  

Dear all,

We can take the credit of CENVAT on the receipt of the invoice.

But if the payment of the same is not made with in the 3 months we have to reverse the CENVAT credit availed.

What will the date of payment in the above case:-

1. The date on the cheque we pay to the service provider

OR

2. The date of clearing of the cheque with the bank.

Please help me on this.

Thanks