TIME LIMITE

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 February 2010 i want to know is there any time limit to utilise the CENVAT input credit
1. Raw material purchased
2. Capital Goods purchased.

CA PUNEET TANEJA

CA PUNEET TANEJA (Expert)
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01 February 2010 Hiiiii
Credit of Cenvat on rawMaterial Purchased can b availed at the time when goods are entered into the factory premises. But this doesnt means that we can not take the credit afterwards. Credit can b taken anytime after the goods entered in Factory even after in the next year...
So as the case with the Capital Goods.
Credit can be taken 50% in the same financial year but again there is no restriction that the 50% credit is to b availed in the yr of purchase. it can be taken anytime.....