Interested to Buy Any Domain ? << Click Here >> for more details...
what is cenvat credit expain it
- 20 Answers
- 106458 Views
- Hindustan Unilever Limited, IBM, RBI, I also Faced
- E-Mail Answers
Answer Posted / gaurav sharan
To reduce the tax burden of the end user, Govt. of India introduced the MODVAT scheme which is now called CENVAT scheme. CENVAT is central value added tax which is basically an input duty relief scheme. CENVAT scheme tries to ensure that duty paid at the input stage is offset against duty payable at the final product stage and thus preventing cascading effect of duty on final products.
Purchased Raw Material (inputs) Rs.110 (Includes 10% Tax paid on it i.e. Rs.10)
Value addition: Rs.200 Total (1+2) Rs.310
Excise Duty on (3) above, Say 20% Rs. 62
If CENVAT credit is there,
Cost of Product= [110+ 200 + 20% ((110-10) + 200)] =Rs.370
If CENVAT credit is not there,
Cost of Product= [110+200+ 20% (110+200)] = Rs.372
| Is This Answer Correct ? | 3 Yes | 11 No |
Post New Answer View All Answers
WHAT IS EXCISE DUTY RATE IN HARYANA for RMC
ON WOODEN FURNITURE EXCISE IS APPLICABLE OR NOT ?
What is turnover limit for Auditing of Service Tax, VAT, Income Tax, Provident Fund, P. Tax and WCT? Please mail me at gautam_ch2 @ rediffmail.com or call me at 09831707812.
Calculate debtors at the end of the year? debtors-50000, bad debts-2000, discount allowed-1000, 5% on bad debt, 2% discount allowed?
What is difference between Contract and legel and legel and profession service???? I had face this question in interview
what is rate of different service tax in haryana
What is income tax? How is it calculated?
What is the maximum amount to issue Form C to a dealer for the purchase of 40 crores in several bills in a quater?
What are the treatment & implications in case interstate sales transaction if party is not registered (Individual or other then individual)
What items come under deferred tax liability?
At present what is the rate of excise duty on sale of Weigh Bridge Machinery to out of state from Karnataka.
Is there any change in the section 80DD for the financial year 2009-10
How many turnover company active TAN no applicable and how many deduction % of service.
IF WE ARE WORKING IN PHARMA COMPANY & I SEND THE MEDICINE SAMPLE TO THE SALSMAN IN VARIOUS PLASE OF INDIA THAT TIME MADE INVOICE OR ANY OTHER CHALLN OR RECIEPT WHAT AS PER LAW ANY TAX APPLIED IN THE INVOICE & WHICH FORM WILL BE REQUIRED HOW TO GET IT, PLEASE GIVE ME DETAIL ALL INFORMATION WITH EXAMPLE & WHAT ENTEY OF THIS TRANSATION IN BOOKS OF ACCOUNT
In TDS Challan, i had written the TAN No of my company wrongly and i file it to the Govt. what can i do now? is there any problem reg this? wat is my next step? shall i give any letter to TDS Circle in this regarding? how can i approach them? Kindly help me immdly with the procedure.
