Balendra Parmar (Finance Manager) (199 Points)
02 May 2012Dear Sir,
We have lot of cenvat credit in preceeding financial year. we want to carry forward balance in the new financial year. We will do it ?
Regards,
Balendra k Parmar.
CA. Nayan Kahar
(Chartered Accountant)
(29 Points)
Replied 02 May 2012
vijay tanna
(CA)
(32 Points)
Replied 02 May 2012
Ki$hor B
(Training & Advisory)
(3015 Points)
Replied 03 May 2012
for how many FYs can the cenvat be c/f ?
Sunil Kumar G
(AGM Taxation)
(373 Points)
Replied 04 May 2012
If you are an exporter and credit accumulated due to export, you can claim refund under Rule.5 of Cenvat Credit Rules 2004. Or you don't want refund, you can c/f to the Current year.
You can c/f "n" number of years.
Lalit Sangani
(M.Com. Asst. Manager Account)
(736 Points)
Replied 04 May 2012
yes you can carry forward and remember one more thing If you have Credit of Capita goods - 2nd 50% of financial year 2011-2012 you can carry forward in current financial year and utilise too.
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 17 May 2012
you can carry forward provided you are not opting for value based exemption in current financial year,
there is no such limit of time for carry forward.
CAclubindia
