cenvat credit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 January 2010
Hi, I want to know that what is cenvat credit and how its have been used by manufacturer.
sanjay.....
sanjay.....
CMA Ramesh Krishnan
(Expert)
22 January 2010
CENVAT Credit is, the Exise duty and service tax paid on the input materials used for manufacture
It can be used for paying the excise duty and service tax payable for the goods produced by the manufacturer
It can be used for paying the excise duty and service tax payable for the goods produced by the manufacturer
ANIL JANGID
(Expert)
22 January 2010
agree with expert
CA Prashant Gupta
(Expert)
24 January 2010
When a manufacture purchase exciseable material then the amount paid by him on purchase can be used to pay excise on sale. This excise paid on purchase is called Cenvat Credit.
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