Cenvat credit timing: claim on receipt subject to a statutory time limit, with reversal and job work safeguards. Cenvat credit is to be taken on receipt of inputs with a statutory time limit for claiming based on specified documents; unused credit can be carried forward. Capital goods attract restricted initial-year credit with balance claimable later, no depreciation on the credited portion, and creditable even if acquired under lease or hire purchase. Job work rules permit direct sending and impose return deadlines with reversal and re-credit if missed, while input service credit depends on invoice receipt and timely payment and is conditional where reverse charge applies.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Cenvat credit timing: claim on receipt subject to a statutory time limit, with reversal and job work safeguards.
Cenvat credit is to be taken on receipt of inputs with a statutory time limit for claiming based on specified documents; unused credit can be carried forward. Capital goods attract restricted initial-year credit with balance claimable later, no depreciation on the credited portion, and creditable even if acquired under lease or hire purchase. Job work rules permit direct sending and impose return deadlines with reversal and re-credit if missed, while input service credit depends on invoice receipt and timely payment and is conditional where reverse charge applies.
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