26 July 2014
Cenvat credit lapses if not taken within six months from date of duty paying document
As per proviso to rule 4(1) and sixth proviso to rule 4(7) of Cenvat Credit Rules (inserted w.e.f. 1-9-2014), Cenvat credit must be taken within six months from date of issue of any duty paying document
(invoice, bill of entry, GAR-7 challan etc. as applicable). . . . . Note that time limit is only for ‘taking credit’. There is no time limit for utilisation of Cenvat Credit. Once you ‘take’ Cenvat credit in your records, you can utilize it any time without any time limit.
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