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Calculation MODVAT

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(Querist)
24 April 2008 Sir,

What is method of Calculation of MODVAT.Because when we purchase then pay MODVAT. if we take credit so how we will calculate the MODVATE.

THANKS IN ADVANCE
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CA Hemant T Dewani

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CA Hemant T Dewani (Expert)
25 April 2008 modvat /cenvat is seperatly charged in the invoic if you are manufacturer or service given and liable to exice then you will take 100% cenvat credit which are seperatly charged in the bill
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Ram Avtar Singh

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Ram Avtar Singh (Expert)
27 April 2008 cenvat is seperatly charged in the manufacturer Invoice. you will take 100% cenvat & cess credit. If you are purchasing from Dealer or Importer then you should calculat Duty pass on like this(from Saler Purchase detils given in below of the Invoice)

(duty/quantity)*(qtuantiy) purchase by us.same cess will be calculated
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