Calculation MODVAT

This query is : Resolved

AMIT KUMAR ROY (Querist)
Follow

24 April 2008 Sir,

What is method of Calculation of MODVAT.Because when we purchase then pay MODVAT. if we take credit so how we will calculate the MODVATE.

THANKS IN ADVANCE

CA Hemant T Dewani

CA Hemant T Dewani (Expert)
Follow

25 April 2008 modvat /cenvat is seperatly charged in the invoic if you are manufacturer or service given and liable to exice then you will take 100% cenvat credit which are seperatly charged in the bill

Ram Avtar Singh

Ram Avtar Singh (Expert)
Follow

27 April 2008 cenvat is seperatly charged in the manufacturer Invoice. you will take 100% cenvat & cess credit. If you are purchasing from Dealer or Importer then you should calculat Duty pass on like this(from Saler Purchase detils given in below of the Invoice)

(duty/quantity)*(qtuantiy) purchase by us.same cess will be calculated

Upgrade to CAclubindia Pro. Subscribe Now!