TaxTMI 
TaxTMI 
what is time limit for taking cenvat credit.i had some purchase in the month of december 2010 but bill was recd in august 2011.can take credit of cenvat.its allowed or disallowed under which section,circular or notification.
please guide to me.
cenvat credit
23 Aug 2011 
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Cenvat credit: no time limit; credit allowed on receipt of goods, capital goods immediate portion with remaining deferred.
No statutory time limit prevents availing CENVAT credit; the operative requirement is physical receipt of goods at the factory before claiming credit. Credit may be availed immediately on receipt of inputs or input services. For capital goods a portion may be claimed in the same financial year and the remaining portion in a subsequent year, subject to the condition that the goods have been received in the factory. (AI Summary)
No statutory time limit prevents availing CENVAT credit; the operative requirement is physical receipt of goods at the factory before claiming credit. Credit may be availed immediately on receipt of inputs or input services. For capital goods a portion may be claimed in the same financial year and the remaining portion in a subsequent year, subject to the condition that the goods have been received in the factory. (AI Summary)