Time limit for cenvat credit of service tax

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Narayan Sahu (Querist)
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15 March 2013 Dear Sir,
Good Evening. Pls tell me what is the time limit for taking cenvat credit of service tax on a particular invoice. Within how many days we have to take cenvat credit. Relevant Act pls.

Sumit Grover

Sumit Grover (Expert)
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15 March 2013 No time limit is prescribed under law.....You can take the CENVAT anytime after the receipt of invoice......But one point must be noted that the CENVAT shall be allowed subject to the condition that the payment to the Vendor shall be made within three months from the date of invoice......otherwise, the CENVAT shall be reversed after the expiry of three months.....and the same shall be allowed to be taken after the payment to the Vendor is made thereafter.(Rule4(7) of CCr,2004)

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Narayan Sahu

Narayan Sahu (Querist)
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20 March 2013 Thank you sir.

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