Time limit for utilising credit

[Guest]

For how long we can carry forward our unutilise service tax credit. Is there any time limit after which we have to write-off the unutilised credit from our books of accounts?

[Guest]

There is no time limit fixed for carry forward of unutilised service tax credit. You can carry forward any amount of credit as long as you are entitled to utilize the same.

AI Summary

Service tax credit carry-forward permitted indefinitely where entitlement to utilization persists, with no prescribed time limit for write-off. There is no prescribed time limit for carrying forward unutilised service tax credit; taxpayers may retain and carry forward any credit amounts so long as they remain entitled to utilize those credits. Write-off is not compelled merely by lapse of time and arises only if entitlement to utilize the credit ceases or applicable provisions require derecognition.