UTILIZATION OF CENVAT CREIT OF ST AND ED BEYOND 6 MONTHS AND 1 YEAR

[prathit maini]

DEAR SIR ,

PLZ GUIDE ME WHETHER WE CAN AVAIL CENVAT CREDIT OF EXCISE DUTY AND SERVICE TAX BETWEEN PERIOD DATED 1-SEP-14 TILL 31-MARCH -15 OF INVOICES WHOSE DATE IS MORE THAN 6 MONTHS OLD .AND FROM 1-4-15 WHOSE INVOICE DATE IS MORE THAN A YEAR OLD .

PRATHIT MAINI

AI Summary

CENVAT Credit: One-Year Limit from Invoice Date; No Expiry Once Availed; Conditions for CESS, SHECES, GTA Exemptions A discussion on a forum addressed the utilization of CENVAT credit for excise duty and service tax on invoices older than six months and one year. It was clarified that from March 1, 2015, the time limit for availing CENVAT credit is one year from the invoice date. However, there is no time limit for utilizing the credit once availed. Restrictions on utilizing accumulated CESS and SHECES were noted, with specific conditions for excise and service tax liabilities. Additionally, exemptions for goods transportation agency (GTA) service tax liability were discussed, specifying limits of 750 and 1500 based on consignment conditions.