XYZ limited is 100% EOU.It has availed cenvat credit of excise and service tax paid on input good and services.Pls clarify about refund of cenvat credit (timelimit,amt etc).if refund is not taken can the company use it for payment of duties after debonding against duty payble on local sale
4 Replies
CA Suri Kota
(Assistant Manager @ EY)
(955 Points)
Replied 25 June 2015
Hello Soniya,
You can claim the Refund within one year of availament. You can apply for the refund on quarterly basis which was certified by a CA.
You can use such unused credit against the future liablities and there is no requirement for debonding. You can avail the 100% credit on EOU transactions and use the same for payment against Domestic sale.
Thanks,
Suri
soniya Patil
(Accounts Manager)
(54 Points)
Replied 25 June 2015
| Originally posted by : CA Suri Kota | ||
 |
Thank you sir, I just want to confirm is there any time limit for utilisation of cenvat credit? |
|
Kuldipsinh Jadeja
(Job)
(357 Points)
Replied 25 June 2015
There is no time limit for utilisation of cenvat credit
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