if on 31st march of a year,there is service tax input credit in excess of output,can this amount be carried forwarded to the next year or will it lapse??
3 Replies
Madhukar N Hiregange
(Chartered Accountant)
(39034 Points)
Replied 11 June 2009
Under the cenvat credit rules there is no provision for lapsing of credit. As on date it can be carried forward indefintely.
CA CS Akashdeep Singh
(Practicing CA)
(1394 Points)
Replied 11 June 2009
yes Mr. Madhukar N Hiregange is right, u can carry forward CENVAT credit for unlimited period
Jyoti Malik
(ACCOUNTANT)
(2644 Points)
Replied 13 June 2009
Yes you can carry forward the Cenvat Credit
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