Time Limit for availing cenvat credit

[Guest]

sir, please tell us about the time limit for taking cenvat credit if we forget during the month of input service received and paid on output full amount via challan.

[Surender Gupta]

There is no time limit for cenvat credit has been prescribed. You may avail the credit within the reasonable time period in the next tax period.

[Guest]

I am strongly agrred with the opinion of learned brother Mr. Surinder. In this connection I would like to add one more thing that any unutilised Cenvat Credit should be disclosed in your balance sheet at the end of the year as Cenvat Credit recoverable account so as to strong your credit claim.

[Snehal Kulkarni]

There is no time limit for cenvat credit has been prescribed

AI Summary

No Specific Time Limit for Claiming Cenvat Credit; Avail Within Reasonable Period in Next Tax Cycle. A query was raised regarding the time limit for availing Cenvat credit if it was missed during the month of receiving input services and paying the output tax. Three responses were provided. The consensus among the respondents was that no specific time limit is prescribed for claiming Cenvat credit. It can be availed within a reasonable period in the next tax period. Additionally, it was advised to disclose any unutilized Cenvat Credit in the balance sheet as a recoverable account to support future credit claims.