Answer / madhulika2011

Difference between CENVAT & CST....
CENVAT..(Central VAT)...A manufacturer of final product or provider of taxable service shall be allowed to take credit of duty of excise as well as of service tax paid on any input received in the factory or any input service received by manufacturer of final product.
CST (Central Sales Tax)... The tax is collected at one stage of purchase or sale of goods. Therefore, the burden of the full tax bond is borne by only one dealer, either the first or the last dealer.
An Act to formulate principles for determining when a sale or purchase of goods takes place in the course of inter-state trade of commerce or outside a State or in the course of imports into or export from India, to provide for the levy, collection and distribution of taxes on sales of goods in the course of inter-state trade of commerce and to declare certain goods to be of special importance in inter-state or commerce and specify the restrictions and conditions to which state lawsimposing taxes on the sale or purchase of such goods of special importance shall be subject.

Answer / s.n.dutta

CENVAT..(Central VAT)...A manufacturer of final product or
provider of taxable service shall be allowed to take credit
of duty of excise as well as of service tax paid on any
input received in the factory or any input service received
by manufacturer of final product.
CST (Central Sales Tax)... The tax is collected at one stage
of purchase or sale of goods. Therefore, the burden of the
full tax bond is borne by only one dealer, either the first
or the last dealer.
An Act to formulate principles for determining when a sale
or purchase of goods takes place in the course of
inter-state trade of commerce or outside a State or in the
course of imports into or export from India, to provide for
the levy, collection and distribution of taxes on sales of
goods in the course of inter-state trade of commerce and to
declare certain goods to be of special importance in
inter-state or commerce and specify the restrictions and
conditions to which state lawsimposing taxes on the sale or
purchase of such goods of special importance shall be subject.

CONTIGENT LIABILITYES

11 Answers   Accenture, Genpact, Siemens,

---

Purchase bills of the previouse year received in financial year explain treatment.

3 Answers  

---

what is the accounting treatemnt for issuing material to a subcontractor on recovery basis?

2 Answers  

---

hi i done mba finance...2008 1 year exp in kpo 1 year i did nt do any job i know all d accounting packages now i am in job search but my exp is not helpful to me ?how can i approach now?

1 Answers  

---

differences between liabilities and assessts

1 Answers   ABC, Prolect,

---

what is Bank Reconciliation?

2 Answers   EDS,

---

sir.i jitendra surati have a query.aboutloss settelment. i have loss of capital rs 26000/ and mr friend have loss of rs106000/- as capital. how to compensate the loss by sharing?how many i have to give to my friend ? (A)26000+106000=132000 and i have to give him 66000? or 40000 rs?

1 Answers  

---

Give me solved example of bank book and cash book

4 Answers  

---

How to calculate bank's turnover?

11 Answers   Banking, DCCB, District Cooperative Central Bank DCCB, HDFC,

---

what is deferred revenue expenditure?

10 Answers   Capital IQ, EIS,

---

pls explain the clear difference between Depreciation and Demortization?

5 Answers   HSBC, Syntel,

---

Whatis new GL & Odd G.L What is the difference between these two.

0 Answers   HCL,

---