MODVAT & CENVAT
This query is : Resolved
21 November 2007
1).Concept of MODVAT with example.
2).Concept of CENVAT with example.
3).Application of the above two in the practical matters.
4).Important points to be remembered while doing TAX AUDIT u/s 44AB.
2).Concept of CENVAT with example.
3).Application of the above two in the practical matters.
4).Important points to be remembered while doing TAX AUDIT u/s 44AB.
21 November 2007
There is modvat now. Only CENVAT is now means central value added tax. Exp.
Purchase amount - 100
CENVAT (Paid to party) 10
Total 110
Next transaction sales value 200
CENVAt (Recovered from customer) 25
Then we hace to pay to govt 25-10 = 15 by next 5th date of sales made
Purchase amount - 100
CENVAT (Paid to party) 10
Total 110
Next transaction sales value 200
CENVAt (Recovered from customer) 25
Then we hace to pay to govt 25-10 = 15 by next 5th date of sales made
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CLOSING STOCK QUERY
- Exiting partner in partnership firm in gst portal
- IT returns for fresh job holders
- F&O reporting in ITR
- Can a single LLP in India legally operate multiple unrelated businesses (Travel, Cloud Kitchen, Ecom
- Loss of interest in PF transfer from EPFO to Trust
- Short Term Gain Reporting ITR
- Gst on travel by air for business purposes
- Taxability of credit in canara bank ET & T section (NRO)
- ITR-3 File/Error Found
- DUE DATE FOR ITR FILING
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
