CENVAT CREDIT

[MANO KARAN]

Dear Seniors,

I am in Manufacturing Pharma Unit. We are doing Job Work to one unit. They are given 15nos. cenvat bills (Feb 16 and March 16) for taken credit in Nov. 16. Enenthough one year for elgible to credit taken, how to take bulk number of Invoices.Please clarify.

[DR.MARIAPPAN GOVINDARAJAN]

What is the problem in taking credit for all vouchers in November 2016?

[Rajagopalan Ranganathan]

Sir,

The credit shall be taken within one year from the date of invoice/bills. Quantum of invoices/ bills will not be a bar for taking credit.

[Ganeshan Kalyani]

You can avail the Credit, provided the invoices are dated within one year. Thanks.

[Suryanarayana Sathineni]

Dear Friend,

First of all it is not very clear on what ground your principal to whom you are doing job work send the said invoices for taking credit? Is it a job work or Loan licence? It is a loan licence arrangment, then you can take cenvat credit.

With regard to your query as to how to take the credit of all such 15 Cenvat Invoices/Bills which are within the time limit of 1 year from the date of such invoices, you can take credit on each invoice in your Cenvat credit Account under independent entry in the said account.

Best Regards

Suryanarayana

AI Summary

Cenvat credit timing: invoices within one year remain claimable; quantum not a bar, enter each invoice separately. Cenvat credit may be availed for invoices dated within one year of the invoice date; quantity of invoices is not a bar. Claimants should record credit by making independent entries for each eligible invoice in the Cenvat credit account. If the arrangement is a loan licence, credit can likewise be taken provided invoices meet the one year eligibility and other requisites.