Please Help: Cenvat credit

Posted Date : 19-Dec-2011 , 09:56:01 pm | Posted By shiv bhatia

Cenvat credit availed in 2010 for Input service documents of 2005. Should I opt for 6(3) reversal of cenvat credit, or can I avail 100% cenvat credit, as the services availed was of 2005 period? without 6(3) cenvat credit reversal?

Category : Service Tax | Answers : 1 | Comments : 1 | Hits : 339

Answers

Answer By: CA VIPIN GARG

Dear Shiv Ji, As far as i concern, you need not to reverse the cenvat credit taken in 2010 for input service documents of 2005 provided the same has not been claimed along with the expense earlier.

As per rule 3(1) of CCR also you can very well take credit and utilise the same at any time or after any period.

There is no time bar of taking and utilising of cenvat credit.

Hope you got the answer you were looking for, have a nice day Shiv Ji............