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.
Pharmaceutical company seeks to claim CENVAT credit for delayed invoices; must record each as independent entry. A manufacturing unit in the pharmaceutical sector sought advice on claiming CENVAT credit for 15 invoices dated February and March 2016, presented in November 2016. Respondents clarified that credit can be claimed within one year from the invoice date, and the number of invoices does not impede this process. It was suggested to record each invoice as an independent entry in the CENVAT credit account. One respondent questioned whether the invoices were related to job work or a loan license arrangement, indicating that the latter would allow for credit claims. (AI Summary)
TaxTMI 
TaxTMI 
TaxTMI 
