DEEPAK KUMAR MITTAL (Accounts Head) (39 Points)
28 September 2012Please guide me about whether the Input can be taken in the following case.??
If i received a service from M/s XYZ & Co. and i didnt make payment till 9 months. Can i ever take the Input Credit of the Service Tax.? If YES, in what case.
Please Guide.
DEEPAK KUMAR MITTAL
(Accounts Head)
(39 Points)
Replied 28 September 2012
Is there any Notification or Circulars regarding that if we dont pay off/clear the bill within 30 days then we cant take the Input Tax Credit.????
Vikas
(CA)
(1135 Points)
Replied 28 September 2012
Deepak,
You can claim cenvat on from the date of invoice if the payment is made within 3 months as per Rule 4 of the CCR, 2004.
Since, you have not yet made the payment, you will be eligible for the availment at the time of payment.
sourav jain
(INTERNAL AUDITOR)
(128 Points)
Replied 28 September 2012
In case the payment of the value of input service and the service tax paid or payable as indicated in the invoice, bill or, as the case may be, challan referred to in rule 9, is not made within three months of the date of the invoice, bill or, as the case may be, challan, the manufacturer or the service provider who has taken credit on such input service, shall pay an amount equal to the Cenvat credit availed on such input service and in case the said payment is made, the manufacturer or output service provider, as the case may be, shall be entitled to take the credit of the amount equivalent to the Cenvat credit paid earlier subject to the other provisions of these rules.
so in your case you can take input credit after payment is made to the service provider till then you are not allowed.
DEEPAK KUMAR MITTAL
(Accounts Head)
(39 Points)
Replied 29 September 2012
This means that whenever we pay we can take credit in that month only.
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