https://www.taxtmi.com/forum/issue?id=3639 No express statutory time-limit exists for taking Cenvat credit; the rule requires immediate availment on inputs, but credit may be claimed later if conditions are met. Capital goods attract phased credit with an initial-year restriction and remaining credit in later years. Transitional practice around a specified policy-change date permits post-date bill credits before payment only if payment is made within a short prescribed period; otherwise the credit must be reversed. Compliance with payment-linked conditions and phased capital goods treatment are the operative constraints. en-us Mon, 12 Dec 2011 12:32:01 +0530 Thu, 23 Jan 2025 15:58:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=3639 No express statutory time-limit exists for taking Cenvat credit; the rule requires immediate availment on inputs, but credit may be claimed later if conditions are met. Capital goods attract phased credit with an initial-year restriction and remaining credit in later years. Transitional practice around a specified policy-change date permits post-date bill credits before payment only if payment is made within a short prescribed period; otherwise the credit must be reversed. Compliance with payment-linked conditions and phased capital goods treatment are the operative constraints. Discussion-Forum Service Tax Mon, 12 Dec 2011 12:32:01 +0530 https://www.taxtmi.com/forum/issue?id=3639