Time limit for availment of cenvat credit

[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.

AI Summary

New Notification 21/2014 Imposes 6-Month Limit on CENVAT Credit, Applicable to Reverse Charge Mechanisms A query was raised regarding the applicability of a new notification, 21/2014 dated 11.07.2014, which imposes a six-month time limit for availing CENVAT credit effective from 01.09.2014. The question specifically inquired whether this time limit applies to service tax paid under both partial and full reverse charge mechanisms. The response confirmed that the CENVAT credit rules have been amended by this notification, affecting the overall CENVAT Credit Rules (CCR) and confirming its applicability to reverse charge mechanisms.