Can we Claim the credit of service tax input for the current financial year of past years??
For Example Current FY 2011-12
Can we claim service tax input credit not claimed from the year 2006-2007 and reduce it from the expenses of current year??
Geetha (Article Assistant) (27 Points)
07 June 2012Can we Claim the credit of service tax input for the current financial year of past years??
For Example Current FY 2011-12
Can we claim service tax input credit not claimed from the year 2006-2007 and reduce it from the expenses of current year??
krishna vishwanath
(student)
(81 Points)
Replied 07 June 2012
visu iyer
(mentor)
(834 Points)
Replied 15 June 2012
Yes.
U can claim;
There is no time limit prescribed for availing the CENVAT credit;
ensure that sufficient documents are available exercising your rights;
CA Akshay Yetiwar
(ca)
(254 Points)
Replied 16 June 2012
how can you reduce the cenvat credit of 2006-07 from the expenses of current year i.e. 2011-12??
krishna iyer
(Sr.Finance Manager)
(197 Points)
Replied 17 June 2012
.
there is no time limit for cenvat credit availment. . But how to convince Dept that you have not availed earlier. Therefore you may inform dept that you are doing so.
Chetan
(Officer)
(112 Points)
Replied 18 June 2012
whether the credit has been availed or not can be proved from the returns of that particular period (ER1) ... if the credit has not been availed then the same can be availed and utilised right now ...
Live class on PF & ESI Enrollment & Returns Filing(with recording)
CAclubindia
