What is meaning of cenvat credit please described in detail.
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Answer Posted / h.r. sreepada bhagi
Cenvat Credit refers to availing (taking) credit of CENVAT
Charged by a manufacturer, or dealer in his sales invoice by
the purchaser of goods.
The purchaser of goods is entitled to adjust the Cenvat in
his purchase bills against the Cenvat charged in his Sales
Invoices as per the Provisions of Central Excise Act, in India.
Please refer both Central Excise & Service Tax Acts for more
information ; Availing & utilisation of Cenvat credits as
these are related.
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