Telcos can carry forward unavailed Cenvat credit to GST: finance ministry

The finance ministry on Wednesday said telecom companies will be permitted to carry forward unavailed Cenvat credit to the goods and services tax (GST) regime, giving a major relief to the operators already battling high debt. The revenue department through a notification has amended the Cenvat Credit Rules, 2004, to enable service recipients to carry forward such unavailed credit of Service Tax u…