St credit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 December 2014
Can we take the credit of Service Tax of Oct'14 paid in Nov'14 against Receipt of Service Tax for the month of Nov'14?
02 December 2014
You can take Cenvat Credit upta the date of last day of month or quarter, as case may be .
For example Cenvat credit balance lying as on 20th November can be utilized for the payment of Excise Duty or Service Tax for the month November
For example Cenvat credit balance lying as on 20th November can be utilized for the payment of Excise Duty or Service Tax for the month November
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Querist : Anonymous
Querist :
Anonymous
(Querist)
02 December 2014
Is cenvat credit depends on Payment basis?
02 December 2014
No Cenvat Credit can be taken as on receipt of Invoice and Service/material.
However, in case Services Inputs payments need to be paid withing six months from the date of invoice. if payment is not made within 6 month cenvat credit taken earlier need to be reversed as per proviso to rule 4(1) of cenvat credit rules
However, in case Services Inputs payments need to be paid withing six months from the date of invoice. if payment is not made within 6 month cenvat credit taken earlier need to be reversed as per proviso to rule 4(1) of cenvat credit rules
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