Availment of cenvat credit beyond 6 months

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....vailment of cenvat credit beyond 6 months<br> Query (Issue) Started By: - SANDESH SHINDE Dated:- 27-11-2014 Last Reply Date:- 28-11-2014 Central Excise<br>Got 2 Replies<br>Central Excise<br>Dear Sir, ....

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.... We are registered as a Input Service Distributor and if we had availed credit of invoices say of April , May, June 2014 not purposely beyond 6 months then what will be the consequences,please explain....

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....,thanks and Regards. Reply By Rajagopalan Ranganathan: The Reply: Dear Mr. Shinde, Since you have availed the credit after six months from the date of invoice, the credit availed by you is inelig....

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....ible credit. It is not wrong credit. though you have not utilised/distributed the ineligible credit the same should be reversed with interest and it also attract penalty under rule 15 of Cenvat Credit....

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.... Rules, 2004. Reply By Naveed S: The Reply: Sir, Further to add to above reply that, if any such credit availed beyond 6 months period is distributed to other units, then the same shall also be lia....

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....ble to be recovered with interest and penalty, and personal penalty too.<br> Discussion Forum - Knowledge Sharing ....