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Cenvat credit

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(Querist)
21 August 2014 Wat do you mean by CENVAT CREDIT...???
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A. Sankaranarayana

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A. Sankaranarayana (Expert)
21 August 2014 Dear Vamsi,

1. In Excise, at the time of sale, we collected Excise Duty - call it as Excise output.

2. The same company purchase some excisable goods ie., called Excise Input - technically call it as Cenvat Credit.

3. Moreover, If you paid any Service Tax to any Service Provider, that also claim as Cenvat Credit.

4. Read Cenvat Credit Rules
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Rupesh Jain

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Rupesh Jain (Expert)
22 August 2014 under cenvat act/excise act.

when buyer and seller both are registered under the excise act then buyer can get the excise amount cenvat on excise invoice issue by the seller.
same case of service tax and sales tax\.
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