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
No Time Limit on Utilizing CENVAT Credit After Recording; Flexibility in Managing CENVAT Balances Confirmed. A user inquired about the time limit for utilizing CENVAT credit on a sales return where the excise invoice was issued in June 2014 and returned in July 2014. Multiple respondents clarified that there is no time limit for utilizing CENVAT credit once it is recorded in the books, although there is a time limit for initially taking the credit. The consensus is that the credit can be utilized at any time, providing flexibility in managing CENVAT balances. (AI Summary)
TaxTMI 
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