07 March 2012
as per law credit of excise,service tax take as possible as early oppertunity.it means not that u purchase goods and instant take cenvat credit otherwise it time berred.it means its take at first oppertunity other wise it is barred.Example; u have cenvat credit in first month 5000 and u have to paid on 4th month 4000 than u have to take credit of 4000 in 4th month and 1000 is cerried forward other wise it is barred. so,in your case in two year there has no any oppertunity than u can take cenvat credit otherwise not.
07 March 2012
Thanks for your reply. But can you please provide us the relevant circulars or notifications or section regarding this. This will help me to go strong with my opinion.
CAclubindia
