CENVAT Meaning
This query is : Resolved
01 May 2008
What is meant by CANVAT? What is the basic difference between VAT & CENVAT?
01 May 2008
CENVAT stands for Central Value Added Tax
Vat is applicable for trade sales
whereas CENVAT is applicable for Manufactured goods Sales
Vat is applicable for trade sales
whereas CENVAT is applicable for Manufactured goods Sales
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01 May 2008
Hi
Thanks for answering my query
But I want detail means what is set off against CENVAT?????
Thanks for answering my query
But I want detail means what is set off against CENVAT?????
01 May 2008
EXCISE DUTY & SERVICE TAX WILL BE SET OFF AGAINST THE CENVAT AVAILED ON INPUTS AND SERVICES. AS VAT CREDIT IS SET OFF AGAINST VAT PAYMENTS,CENVAT IS ADJUSTABLE AGAINST EXCISE & SERVICE TAX PAYMENTS.
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