Not taken credit of cenvat in previous year

This query is : Resolved

Nirav (Querist)
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29 May 2014 Dear Sir,
We are Registered as Service Tax Distributor. During Previous year i.e 2010-11, 11-12, 12-13 & 13-14 we mistakely forgot to take credit of Cenvat. Total Amount is nearly 20lacs. Can we Take the Same in Current Year? Kindly Advice as early as possible.

Anshul Jain

Anshul Jain (Expert)
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30 May 2014 Yes ofcourse, CENVAT credit can be availed at any point of time. There is no time limit on availment of credit.

As long as the balance credit of Rs lacs is standing in the books of accounts and relevant input invoices are there with you to justify the credit.

The credit can be added to the CENVAT credit availed during the period at the time of filing of return.

Anshul Jain

Anshul Jain (Expert)
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30 May 2014 Yes ofcourse, CENVAT credit can be availed at any point of time. There is no time limit on availment of credit.

As long as the balance credit of Rs 20 lacs is standing in the books of accounts and relevant input invoices are there with you to justify the credit.

The credit can be added to the CENVAT credit availed during the period at the time of filing of return.

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Anshul Jain

Anshul Jain (Expert)
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