Cenvat Credit

[Asked by Guest]

Dear All,

The bill comes in the name of employee/director with company address and the expense is borne by the company.

Now my question is that can the company take the cenvat credit of that particular bill..

Kindly assist....

Bijoy

[GANTI SARMA]

No, it is not correct. All Bills whatever you want avail credit should be on Company's name and address. Bills which are issued on personal names are not valid for credit and not a issue who will bear the expenditure.

 

AI Summary

Cenvat credit: invoices must be in the company's name and address; bills to individuals are ineligible for credit.
Cenvat credit eligibility depends on invoices being issued in the name and with the address of the company claiming the credit; bills issued to individuals, even if the company bears the expense, are not valid for credit.