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TIME LIMIT FOR AVILING CENVAT CREDIT

Sushil Vaidya (Sr.Officer Purchase) (74 Points)

13 August 2009

Is there is any kind of time limit for taking cen vat credit. If yes then kindly give notification no & if no also give notification no..

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12 Replies

Arun Kumar Singh (GST Advocate) (15220 Points)
Replied 13 August 2009

There is no time limit for avail cenvat credit. But refund claim to be filed within one year from the relevant date.

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Sushil Vaidya (Sr.Officer Purchase) (74 Points)
Replied 14 August 2009

Originally posted by :Arun Kumar Singh
"	There is no time limit for avail cenvat credit. But refund claim to be filed within one year from the relevant date.	"

Is there is any notification about that

sanjeev (govt. Emloyee) (565 Points)
Replied 17 August 2009

As per notification Cenvat credit has to be availed with in 6 months

Jayesh (Sr Article) (78 Points)
Replied 17 August 2009

Dear Sanjeev

as per which notification.. & whether the time limit is for all Cenvat?????

P.Bashista (Advocate) (367 Points)
Replied 17 August 2009

Rule 4(1) of Cenvat Rules states that credit may be taken immidiately on receipt of inputs. The word immidiately has been clearified by the department under Circular No. 345/2/2000-TRU dated 29.8-2000.

So there is no time limit for availing and the unutilised cenvat credit can be carried forward to the next financial year.

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Chandramohan (Senior Manager - Finance & Accounts) (27 Points)
Replied 29 September 2009

it is very helpful those who are not a professional

Thanks for all who give a valuable tips

Sreedhar R (Logistics Manager) (22 Points)
Replied 02 December 2009

I understand that there is no time limit for claiming CENVAT credit and that refund claim has to be filed within one year from the relevant date. Shall be grateful if anyone could clarify whether the "relevant date" means the date of the invoice for input/input service, date of receipt of the goods/service or the date on which the CENVAT credit is claimed.

Thanks & Regards

sreedhar

Swati (CA) (76 Points)
Replied 02 December 2009

I dont think there is any other provision under the cenvat credit rules for refund of cenvat credit other than Rule 5.

Rule 5 provides for refind of credit on inputs, input services used in the manufacture of export goods/provision of output service that are exported. Therefore, in my view it is not correct to say that refund of cenvat credit can be claimed under normal circumstances

avani patel (article) (23 Points)
Replied 27 August 2010

if a dealer has vat refund as on 31 march 2010, then he can claim that refund within a period of 1 year or 2 years and under what notification?

Rineesh Raghavan (MD) (108 Points)
Replied 30 August 2010

Relevant Rate for Refund is contained in Section 11B. It varies based on the original duty payment. Example. If relating to export goods, date on which vessel leaving the Country etc. General rule is the date of payment of duty.

No where in the law, there is any end date for claiming CENVAT Credit. As long as the goods have been received, and the inputs are otherwise eligible, CENVAT Credit can be claimed, irrespective of how old they are.

Rineesh

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Namita (Owner) (38 Points)
Replied 10 September 2010

yes, there is no time limit for availing cenvat credit...the rule says'as soon as inputs are received in the factory'. It should be interpreted reasonably and can be meant to understood that with in reasonable time like same day or with 2-3 days.

Regards