Hi friends.
i found some raw material import bill related to last financial year on which no cenvat credit availed for the amount of CVD & SAD. Whether i can availed this cenvat credit in current financial year????
whether any rule of CCR restrict time limit for claiming credit????????
Hello Uma,
Yes, You can avail this Cenvat now.
But as you say that it pertains to previous year... then there are chances that as you had not availed the cenvat credit , you might have booked it under expenses ...and now the books might have been finalised.
You please check the treatment already given to CVD and SAD when the bill was booked.
It is for sure that ,, when the accountant had not availed cenvat credit, they might have clubbed it in the value of purchases ....
so In current F.Y. Can we reverse the purchase value and take the credit of amounting equal to CVD.
please .........
Regards
Nilesh
CAclubindia
