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Cenvat credit

Statutory Audit 503 views 2 replies

What is Difference between Cenvat and VAT? why some transaction Cenvat Additional duty charged by seller?

 

Thanks

Regards

Karthik.s

 

Replies (2)

Cenvat relates to Service Tax - Money belongs to Central Govt

VAT - Is a Sales  Tax belongs to the State

Cenvat credit - Input on Central excise duty (assess should have central excise registration and possesses excise purchase invoice for taking cenvat credit)

Vat: Value added tax. When a trader crosses his sales 10lacs,or  going interstate purchase and sales, he should registered as a dealer under Tamilnadu value added tax act 2006


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