Answer / rishi pal

Cenvat is based on destination principle i.e. excise
duty/service tax is paid only when goods are consumed. Till
then, burden of duty gets passed on to the next
buyer/customer In case of sales tax, as per this principle,
sales tax is payable in the State in which goods are
consumed and not in the State in which goods are produced

Answer / nilesh

I am well aware of credit cenvat..Please dont bore yourself with this

Answer / kannappan dr

By availing Cenvat Credit one can reduce his burden in paying tax for out put services,He can avail it from his already paid tax for input services paid directly or indirectly by him.At the time of paying tax for out service he can reduce the cenvat credit. Hence he can save the money

Answer / deepika

The powers conferred on the central government. CENVAT was initially introduced as MODVAT in the year 1986 whereby the manufacturers could avail credit of duty paid on inputs used in or in relation to manufacture of the final product for being set off against the duty payable on the final products. Later it was extended to capital goods also. Actually CENVAT credit means duties of excise duty on inputs /capital goods and service tax paid on input services can be adjusted against a manufacturer's excise duty liability or a service provider's service tax liability

Answer / mohan raj

CENVAT Means Central Excise Notry value added tax

Answer / jaymala

cenvatis central value added tax.which is introduce in 1995
and implement on 2005. The government collect vat and
credited to central governement.

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