Utilization of Cenvat for the month.

[Sarfraz Khan]

Dear Sir,

I am making payment for the month of Jan 15, and I have some bills dated Mar 15, Can I use that cenvat for the month of Jan 15 as we have already late and reason in correct that when we are making payment in the month of Oct 15 for Jan 15 and march bills are already in hand.so Can I utilized cenvat against liability for the month of Jan 15.

AI Summary

Cenvat Credit Use Limited to Current or Previous Month; Excess Interest on Service Tax Must Be Claimed as Refund A user inquires about utilizing Cenvat credit from March 2015 to offset liabilities for January 2015. Responses clarify that Cenvat credit can only be used for the current or previous months' liabilities, not future ones. The user also seeks advice on adjusting excess interest paid on service tax. It is explained that excess interest cannot be adjusted against other liabilities but can be claimed as a refund. Legal provisions prevent using excess interest from one service to offset another due to different accounting codes. The user is advised to claim refunds through proper documentation in tax returns.