is there any specific time limit for availing of input cenvat credit , as like the limitation provisions under Sales tax VAT Act ?
gopalsamy (supdt.) 17 December 2009
there is no specfic time limit , however statute says that the input credit should be availed within the reasonable time
tarun goyal (Govt. service) 19 December 2009
Cenvat credit can be availed on inputs as soon as these reach the premises of the manufacturer or the service provider. on capital goods received in th premises 50% can be availed in the financial year in which capital goods have been received and 50% in the subsequrnt year. furhter, i agree with my friends that time limit should be reasonable. it should not be delayed to avaoid inconvenience of giving explanation.