Carry forward of Service tax credit

[Asked by Guest]

Whether we can carry forward the Service tax Cerdit in The next year.

[Surender Gupta]

Yes, you can carry forward the unutilized balance of Cenvat Credit in the next consecutive period / year.

[rishi mohan]

Unavailed cenvat credit can be carried forward to the next year and the same shall be availed in the next year. But the unutilized service tax credit shall be shown in the balance sheet.

AI Summary

Cenvat credit carry forward allowed; unutilized balance may be carried to next year and shown in balance sheet.
Unutilized Cenvat Credit and unavailed service tax credit may be carried forward to the next consecutive period or year for utilisation; any unutilized service tax credit should be shown in the balance sheet as a carried forward credit asset.