Cenvat Credit can be taken within 1 year from date of Invoice/Bill/Challan (Documents mentioned in Rule 9 (1)
(Note:-Earlier the period was 6 months)
Input can be taken even if
- Goods received, the payment for the inputs to the supplier is pending.
- Inputs are only received not yet utilized
Q1
Goods purchased for 100 lacs+12.5% Excise duty
Bill date- 22 July 2015
Goods received in factory -25 July 2015
What is duration during which Input available
View answer
Input available directly on RECEIPT OF GOODS i.e. 25 July 2015
Last date to take input is one year from date of invoice
i.e. one year from 22 July 2015
i.e. till 21 July 2016
Duration during which Input available is from 25 July 2015 to 22 July 2016
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