What is meaning of cenvat credit please described in detail.
Answers were Sorted based on User's Feedback
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
Is This Answer Correct ? | 13 Yes | 14 No |
Answer / nilesh
I am well aware of credit cenvat..Please dont bore yourself with this
Is This Answer Correct ? | 1 Yes | 3 No |
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
Is This Answer Correct ? | 0 Yes | 3 No |
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
Is This Answer Correct ? | 0 Yes | 3 No |
Answer / mohan raj
CENVAT Means Central Excise Notry value added tax
Is This Answer Correct ? | 21 Yes | 46 No |
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.
Is This Answer Correct ? | 28 Yes | 68 No |
WHAT IS SHARE OPTION OUTSTANDING ACCOUNT??
1 Answers National Institute of Food Technology Entrepreneurship and Management NIFTEM,
Can you name different branches of accounting?
what is cost center option in tally what purpose it is used?
What is Debit Note & Credit Note?
In manufacturing co at what time entry tax shall be applicable
What is marginal costing?
Do you have any professional experience in this field?
Please give me as example of service tax & Vat Posting through Tally.
what is break even analysis ?
What is the difference between trial balance and general ledger?
my interview is on tuesday so i just want to know everything about the interview like which type of question they will ask me as i completed m.com . please helm me plz plz
Explain me scrap value in accounting?