Delayed deemed credit on inputs was permissible where no rule barred later availment and the balance claim caused no departmental loss.

Deemed credit on inputs could be availed after receipt of the goods where the governing rules did not prescribe any express time limit or specific prohibition on delayed availment. Since the credit was otherwise admissible on receipt of the inputs, denial was not justified merely because it was taken later. The assessee's earlier taking of lesser credit by mistake, followed by a claim only for the balance, was also treated as immaterial in the absence of any demonstrated loss to the department. Delayed availment of deemed credit was therefore held permissible.

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Issues: Whether deemed credit on inputs could be taken at a later date than the date of receipt of the goods in the absence of any specific rule prohibiting such delayed availment.

Analysis: The credit was otherwise admissible on the inputs received, and the relevant rules did not prescribe any express time limit for taking such credit. In the absence of a specific prohibition, delayed availment of credit could not be denied merely because it was taken after the goods were received. The fact that the assessee had taken lesser credit by mistake and later sought only the difference also did not warrant interference, particularly when no loss to the department was shown.

Conclusion: The delayed taking of deemed credit was held permissible, and the departmental appeal was rejected.

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