Whether is there any time limit for claiming Cenvat Credit on Fixed Assets?
Whether is there any time limit for claiming Cenvat Credit on Fixed Assets?
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Cenvat Credit - Delayed availment – held that there is no provision for denying credit because of delay nor there is any time limit for taking credit in the CENVAT Credit Rules and therefore, the stand taken by the Revenue that credit has to be taken within a reasonable period has no basis - even the supplementary instructions issued by the Board also do not prescribe any time limit for the purpose – credit allowed. |
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CCE, AHMEDABAD Versus LUBI ELECTRONICS |
so as per the case law there is no time limit for availing cenvat credit
regards
sripal jain
Thank you sir.
The only condition is that you have to take credit not exceeding 50% in the current FY in which capital goods have been put to use and balance 5% can be claimed in next Financial Year.
Aggarwal Sarawagi and Co
New Delhi
CA
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