Time limit for availment of cenvat credit

[Asked by Guest]

Dear Sir,

As per new notification 21/2014 dt 11.07.2014, is the time limit of 6 months which is effective from 01.09.2014 is also applicable for service tax paid under partial reverse charge and full reverse charge, Pls explain in simple understanding words, thanks and regards.

[YAGAY and SUN]

Dear Sandesh,

Vide Notification No. 21/2014 dt 11-07-2014, the CENVAT credit Rules amended to the extent of time limit for availing the CENVAT credit. It has overall impact on CCR. Therefore, on RSM, it is also applicable.

Regards

Team YAGAY and SUN

(Management and Indirect Tax Consultants)

AI Summary

CENVAT credit time limit now applies to services under partial and full reverse charge mechanism.
Notification 21/2014 amended the CENVAT Credit Rules to introduce a time limit for availing CENVAT credit; this amendment has an overall impact on the CENVAT Credit Rules and consequently applies to supplies subject to the reverse charge mechanism, including both partial and full reverse charge.