CENVAT
Mondira Saha (GST) (3925 Points)
24 June 2017
Can anyone explain me what is CENVAT?? Can CENVAT adjust with gst???
3 Replies
Praveen Kachhawa
(Financial Accountant)
(225 Points)
Replied 25 June 2017
Cenvat Credit is a scheme where the manufacturers or the output service providers are allowed a set off of the taxes paid on the inputs or the input services that are used while manufacturing the final products or providing the output service. ... He is allowed to use this credit while paying duty on the final product.
Yes cenvat will adjust in cgst
CA NEHA RAMPURIA
(Taxation Consultant)
(1823 Points)
Replied 25 June 2017
you would be getting the credit of cenvat and this would be carried forward in your e credit ledger in gst as CGST
which could then be adjusted as per gst provisions
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