DIFF. BTWEEN MODVAT & CENVAT

What is the diffrence between modvat and cenvet? and there use and benefit with examples.

Nothing, Both are same only name being changed with fine tuning of the scheme

Rgd

vijay

Thanks for all regarding MODVAT & CENVAT Descripttion.  But I thank that you all ignore the main point which is the principal difference between the Duo.  The Difference is about taken credit regarding Capital Goods.

In CENVAT you can't claim 100% credit on Capital Goods in the same financial year, on which it was bought.  50% is in the same financial year and another 50% is in the next financial year.  In MODVAT,  it is not clarify propmptly.

If any suggestions, please call me at 092304-22652

Best Regards,

Bivas

B.COM, PGDFM, Dip.C.Excise & Customs, E-MBA (Finance)

hi bivas and other

i have query about cenvat credit

we do job work (powder coating on metal for a AC Manufacturing co. means final product is exciable) and we use our purchased raw material inclusive of excise duty . roughly  raw material consumption 40% .

right now we are not registered in excise our turnover is 60 lakhs

we issue invoice as job work only for  whole amount

can we register our selves in excise act and claim excise duty on our purchase?

How we will do billing like separate for job work and separate for sales

pl tell me the complete procedure and implications

thanks

narinder

Difference between modvat and cenvat?

how to apply for Modvat or CENVAT scheme :

i mean what are the requirements/ qualifications for a sole proprietor firm:...?

My business firm is a sole proprietorship firm.....

what are the minimum requirements for applying in MODVAT / CENVAT scheme

?????

kkk

Dear,

I have just one question, can we claim this benifit in consolidated paper also or single paper only.

Regards

Anil.