Sales return excise utilization

[Mathurthi RamKumar]

Dear All,

first..I wish u a very happy new year to all. I want to know about sales return. If excise invoice raised on June 14 and total invoice returned by party in july 14 with manufacture invoice only. We show return details on July 14 ER return but cenvat credit not utilized.

Kindly confirm is there is any time limit for cenvat utilization?

Regards

M.RamKumar

[PAWAN KUMAR]

Dear Sir,

As per my view, no such limit has been prescribed in the law which restrict utilization of cenvat credit if lying in the books. Cenvat credit can be utilized any time.

[chetan rachhadiya]

there is no such time limit in utilise the credit. time limit applicable only to take credit.

[DR.MARIAPPAN GOVINDARAJAN]

Thanks for this useful information

[Mahir S]

Yes sir, you can utilize the cenvat credit without any time limit, as explained above.

[MUKUND THAKKAR]

Taking of cenvat credit is within time limit now,

utilization of cenvat credit no time limit, enjoy your cenvat balance at any time..

AI Summary

Cenvat credit utilization has no time limit; only the taking of credit is subject to time limits.
Query: after a sales return recorded in the ER return, is there a time limit to utilize cenvat credit? Respondents uniformly state there is no prescribed time limit for utilization of cenvat credit once recorded in the books; only the taking or availing of credit is subject to statutory time limits, whereas an existing cenvat balance may be used at any time against admissible duties.