Query

Respected Seniors & Friend I want ur suggestion regarding the cenvat Credit rules 2014 which is Applicable from 01.09.2014.The notification is described are as follows"

"Amanufacturer or a service Provider shall take credit on input and input services within a period of six month sfrom the date of issue of invoice , bill or challans. Presently there is no such type of time limitation".

So my Queries is  if the service provider is not making payment  of  a bill on which service tax is applicable with in a period of six moths because of any reason then wether he will he will loose his credit or i m interpreting wrong,

Please correct me  if i m wrong. Please give ur valuable Suggestion as soon as possible.

Replies (1)
The payment condition is applicable on service tax to be depoisted under reverse charge cenvat credit of service tax charged on bill of service provider cabe tsken immediately on reciept of bill however if not paid with in three months then cenvat credit taken to be reversed which hiwever can be tske aga8n on payment

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