TaxTMI 
TaxTMI 
OUR UNIT START FROM FY 14-15 . OUR UNIT IS SSI UNIT IN FY 15-16. WE HAVE NOT TAKEN A EXEMPTION OF 150 LAKH. WE HAVE NOT AVAIL SERVICE TAX CREDIT OF FY 14-15 & ALSO NOT TAKEN IN ER-3 , CAN WE AVAIL SERVICE TAX CREDIT OF FY 14-15 & SHOW IN ER-3 NOW ?
OUR UNIT START FROM FY 14-15 . OUR UNIT IS SSI UNIT IN FY 15-16. WE HAVE NOT TAKEN A EXEMPTION OF 150 LAKH. WE HAVE NOT AVAIL SERVICE TAX CREDIT OF FY 14-15 & ALSO NOT TAKEN I
14 Jan 2016 
9 Replies 
1456 Views Asked by
Time limit for availing input service credit restricts retroactive claims; procedural challenge may be the only remedy under amended Cenvat rules
Input service credit must be claimed within the statutory time limit under the Cenvat Credit Rules; earlier six month and later one year limits make credits for invoices older than the applicable window time barred and not admissible through routine ER 3 filings. Administrative practice and precedent uphold prospective application of time limit amendments, and absent a legal challenge to the validity of the limitation rule, departmental denial or reversal (and possible penal consequences) is to be expected. (AI Summary)
Input service credit must be claimed within the statutory time limit under the Cenvat Credit Rules; earlier six month and later one year limits make credits for invoices older than the applicable window time barred and not admissible through routine ER 3 filings. Administrative practice and precedent uphold prospective application of time limit amendments, and absent a legal challenge to the validity of the limitation rule, departmental denial or reversal (and possible penal consequences) is to be expected. (AI Summary)