Tuesday, August 16, 2016

No denial of input credit just because date of invoice and date of credit fall in different periods

CESTAT, Mumbai Bench held that expression "net cenvat credit" in rule 5 of CENVAT Credit Rules,
2004 means credit "availed" during relevant quarter; hence, irrespective of date of invoice or date of receipt of inputs/services, refund of credit is allowed during period in which "date of taking
credit" falls. Decos Software Development (P.) Ltd. v. CCE [2016] 71 taxmann.com 293

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