Claim of one invoice in the next month

[Guest]

if we di not took claim of one invoice can we take it in calculation of next month calcualtion as return need not to be submitted right now

[Brijesh Verma]

Dear Sudha, Claim of Cenvat i.e. Cenvat Credit is a Legal entitlement of a person receiving tax paid inputs and also clearing taxable outputs. The entitlement enables a person to make use of the tax (already paid at the time of purchase) while settling the liability in respect of the final product cleared by him. A mere failure on the part of the assessee to take credit of the tax on one invoice in aprticular month would not disentitle him from taking the credit in the next month. there is no provision as to Lapse of credit. However, one may contest that even there is no provision to carry forward such credit. In reply we can say that Provisions relating to Credit are beneficial provisions and Hon'ble Supreme Court has held in many cases that beneficial provisions actually need a beneficial construction. Hence, there is no hitch in taking the credit in the next month. Feel Free to Communicate: Regards Brijesh C Verma 98296 66011 [email protected]

[Ravi Chopra]

If you forget to avail the credit of one invocie, you can calim the benefit of the same in the next period within the reasonalble.

[rishi mohan]

Claim or credit of invoice not taken in the previous month can be availed in the next month of the invoice. The claim or credit can be shown in the return.

AI Summary

Cenvat credit entitlement may be claimed in a subsequent return when initially omitted, reflecting its beneficial nature. Omitted Cenvat Credit in one period remains a legal entitlement and can be claimed in a subsequent period; there is no provision in the text creating automatic lapse, and such credit may be shown in the next period's return, consistent with the beneficial character of credit provisions.