04 December 2009
Indirect tax is to be borne by consumers , but where as cenvat credit is not allowed to wholesaler in setting off liabilities against sales tax... and it becomes cost to the wholesalers..???
05 December 2009
Cenvat forms part of the cost and goes into the sales parice charged by the wholesaler. Meaning thereby, the cost is passed on to the ultimate consumer.
The situation is likely to be taken care up by the GST regime.
CAclubindia
