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Cenvat credit

karthikeyan.s (B.Com) (29 Points)

10 August 2015

What is Difference between Cenvat and VAT? why some transaction Cenvat Additional duty charged by seller?

Thanks

Regards

Karthik.s

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2 Replies

V P Narasimhan (Accounts Manager) (791 Points)
Replied 13 August 2015

Cenvat relates to Service Tax - Money belongs to Central Govt

VAT - Is a Sales Tax belongs to the State

Ramchandar (Accounts) (96 Points)
Replied 24 August 2015

Cenvat credit - Input on Central excise duty (assess should have central excise registration and possesses excise purchase invoice for taking cenvat credit)

Vat: Value added tax. When a trader crosses his sales 10lacs,or going interstate purchase and sales, he should registered as a dealer under Tamilnadu value added tax act 2006