Tax Credit
This query is : Resolved
02 September 2009
Dear experts,
Could you please explain what is MAT, VAT, CENVAT "CREDIT" is and how we calculate it??
Thanks in Advance
Could you please explain what is MAT, VAT, CENVAT "CREDIT" is and how we calculate it??
Thanks in Advance
03 September 2009
Value Added tax = VAT (Refer Forum for more details on VAT)
CENVAT Credit is set off of duty paid on inputs with duty payable on outputs
MAT = Minimum Alterate TAx is the Tax tp be paid on the basis of book profit (Earlier) and now it is payable on net wealth
CENVAT Credit is set off of duty paid on inputs with duty payable on outputs
MAT = Minimum Alterate TAx is the Tax tp be paid on the basis of book profit (Earlier) and now it is payable on net wealth
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