Input cenvat

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 March 2013 A Mfg. Company has paid cenvat in Aug 2010 on a/c of import material outside india. But forgot to claim as input credit in RG Register. In Jan 2012 company took credit itself in its books. Kindly suggest is it possible?

Arun Kumar Singh

Arun Kumar Singh (Expert)
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16 March 2013 Yes you can take the cenvat credit in 2012.

Message likes : 1 times

sharma.ctc@gmail.com

sharma.ctc@gmail.com (Expert)
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16 March 2013 Yes, you can take the cenvat credit as because there is no where mentioned in the cenvat credit rules regating the time limit in which he has to take the cenvat credit.

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Rajeev Kumar Garg

Rajeev Kumar Garg (Expert)
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17 March 2013 YES, CENVAT CREDIT CAN BE TAKEN IN PRESENT BUT ENTRY OF GOODS RECEIVED MUST BE ENTERED IN YOUR RG23APT-1 ON ACTUAL DATE OF RECEIVE OF THE GOODS.
FURTHER, THIS IS MY PERSONAL OPINION THAT YOU SHOULD INTIMATE TO DEPARTMENT FOR IT BY GIVING A REASONABLE CAUSE THAT CAN BE "AS COPY OF INVOICE WAS MISPLACED. HENCE MODVAT COULD NOT BE TAKEN AT THE TIME OF RECEIVE OF THE GOODS". BY DOING SO, AUDITORS WILL NOT OBJECT UPON IT.
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Thanks.
Rajeev Kumar Garg
(M.Com, L.L.B.)
Consultant (Excise, Customs & Service Tax)
Ph. no. +91 7500802402