CENVAT CREDIT

[RAMESH ANANTHAKRISHNAN]

Dear Sir,

We are engaged in the manufacture of synthetic filaments. Based on the production we avail CENVAT credit. Shall we avail CENVAT credit for the input material received more than 6 months back.

Kindly advise.

[VINOD KUMAR]

cenvat credit on invoices having date before 1-3-2014 is not available from 1-9-2014.

[YAGAY andSUN]

Dear Ramesh,

Possibilities have been vanished after 01-09-2014 due to amendment in law.

Regards

YAGAY and SUN

(Management, Business and Indirect Tax Consultants)

AI Summary

CENVAT credit restriction: amendment bars credit on older supplier invoices, preventing claims for inputs received beyond prescribed period. CENVAT credit eligibility is constrained by a statutory amendment that rendered claims based on supplier invoices dated prior to a specified earlier date unavailable from the amendment's effective date, preventing manufacturers from availing credit for inputs received beyond the newly prescribed timeframe.