cenvat means only Exise and services or any other tax also ?
Answer Posted / kawaljeet
cenvat means central value added tax it impose on excise service tax and vat also but on central scheme .
cenvat is input tax when goods purchase from someone for producing a final product .its works as input credit when goods sale to a other person .
when goods purchase it work as
purchase a/c dr
input cenvat(excise)a/c dr
input cenvat(education cess)a/c dr
input cenvat(shec )a/c dr
to sundry creditors
when goods sold
sundry debtors a/c dr
to sale a/c
to output excise
to output education cess
to output shec
when adjustment made
output excise a/c dr
output education ac dr
output shed a/c dr
to input exicse
to input education
to input shec
to excise payable
or
excise refundable a/c dr
Is This Answer Correct ? | 0 Yes | 1 No |
Post New Answer View All Answers
Are Utility Services Affected?
How will you define e-commerce?
After doing b.sc / b.tech / mba / ma why do you want to choose banking? Why not something related with you field of education?
What is SHG?
What is credit guarantee funds for ssis and its features?
ipls send me the type of interview questions asked in andhra bank clerical interview
what are levels of traders?
How to fight Inflation and what is the current Indian scenario about Inflation?
What do you mean by 'non-plan expenditure'?
What is capital structure? What are the principles of capital structure management?
What is the Difference between public sector and private sector banks?
How the economic development comes?
Name the types of 'inflation'?
Explain fixed assets and investments
Explain debt equity ratio. What are its components?