What is cenvat?
This query is : Resolved
25 June 2009
CENVAT stand for central excise value added tax. Manufacturer are eligible to get credit of duty paid on inpur and capital goods used for manufactuirng activity subject to terms and condistions stipulated in excise act and rules
25 June 2009
Cenvat (Central Value Added Tax).....It is a Concept of taxation which helps in avoiding the
cascading effect of taxes. Eg. Whenever a manufacturer buys
goods and pays taxes he is given a credit of the taxes and
while selling the goods he is allowed to take the credit of
the taxes which he has paid, and he is asked to pay the net
difference only avoiding the cascading effect!!!
cascading effect of taxes. Eg. Whenever a manufacturer buys
goods and pays taxes he is given a credit of the taxes and
while selling the goods he is allowed to take the credit of
the taxes which he has paid, and he is asked to pay the net
difference only avoiding the cascading effect!!!
25 June 2009
Agree
25 June 2009
If we are not manufacturer, we pay vat to our vendors, this vat should be considered as input VAT for us, this input VAT is CENVAT?
26 June 2009
i totally agree with reply given by CMA Babu
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- Event company query
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
Trending Online Classes
CAclubindia
