https://www.taxtmi.com/article/detailed?id=6586 Cenvat credit of Education Cess and SHE Cess is restricted by sub rule 7(b) to payment of those cesses; after the cesses were withdrawn the Board's minutes concluded accumulated balances cannot be utilised and will lapse. This stance conflicts with recent amendments permitting cross utilisation for inputs/services received after specified dates and with judicial principles that validly earned credit accrues on payment. The minutes are departmental views without binding effect and denial of utilisation risks cascading tax impact and legal uncertainty. en-us Thu, 17 Dec 2015 23:54:44 +0530 Thu, 17 Dec 2015 23:54:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6586 Cenvat credit of Education Cess and SHE Cess is restricted by sub rule 7(b) to payment of those cesses; after the cesses were withdrawn the Board's minutes concluded accumulated balances cannot be utilised and will lapse. This stance conflicts with recent amendments permitting cross utilisation for inputs/services received after specified dates and with judicial principles that validly earned credit accrues on payment. The minutes are departmental views without binding effect and denial of utilisation risks cascading tax impact and legal uncertainty. Articles Cenvat Credit Thu, 17 Dec 2015 23:54:44 +0530 https://www.taxtmi.com/article/detailed?id=6586