What is meaning of cenvat credit please described in detail.
- 16 Answers
- 116793 Views
- Ferrari, Steelco Gujarat Ltd, Whirlpool, I also Faced
- E-Mail Answers
Answer Posted / prahallad nayak
1.Cenvat Credit refers to taking credit of CENVAT
Charged by a manufacturer, or dealer in his sales invoice by
the purchaser of goods.
2.Because if any manufacturer purchased a material, which is duty paid, and if it is used for his further manufacturing activity, he can avail this as credit in his book based on the Central Excise Invoice. At the time of selling his manufactured goods, he is liable to pay the excise duty. He can adjust the credit which he has taken into his book and pay the rest.
| Is This Answer Correct ? | 5 Yes | 1 No |
Post New Answer View All Answers
In accounting equation what is the treatment of investment in shares??
What is accounting ethics?
What do you think is a bank reconciliation statement?
What is "deposit in transit"?
Tell me an example of a tough decision that you had to make?
What are the probable interviwe questions in SBI clerical interview ? I am having my interview on 30th april.
how to we pass a purchase entry in item invoice mode where some advance has been paid to the party. the purchase entry should get offset with the advance payment entry so that it does not appear in the bill outstanding or bills due list. please guide.thank you
what stock transfer applicable in sister concern unit.
Mobile on Rupees 2000 purchase for office use not for staff....What entry in accounts..?????
Explain me have you ever heard about tds, what it is?
Tell me what is an over accrual?
What is mutual fund what is derivatives what is capital market what is TDS.breifly
What do we mean by purchase return in accounting?
Pls tell me the basic rules of accounts for interview in finanace or accounts section
what is the defination of mat n calculation of mat... with example this is applicable in company or firm, pl. discribe me.....thanx ashok
