24 April 2009
what is cenvat? what is cenvat credit ? please answer in detail about all aspects of this topic. for more info if link is available, so kindly give that also.
24 April 2009
What excise you paid in your purchases, you can avail benefit against your collecting excise on sale of your mfr. products and services.cless/reduce weight of your cost of product is main theem of goverment.
24 April 2009
CENVAT is Central Value Added Tax. It was originally known as MODVAT. It allows the manufacturer or the service provider to take the credit of excise duty or service tax paid by them on various raw materials, capital goods, input services as the case may be. This credit is set off against his excise duty or service tax liability. There are Cenvat Credit Rules which defines the various treminology related to Cenvat and the valuation. Link for Cenvat Credit Rules,2004 is http://finmin.nic.in/law/CENVATcreditrules2004.pdf This will open the pdf file for the rules.
I know the practically problems comes accross to understand the excise bt these are the fundamentals to understanding the Production Process there are excsie registers RG=1, 23apt2 ,etc. pleae before understnading the Cenvat try to understand the prodcution process . Best of luck . regards
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