Dear sir,
Explian the concept of CENVAT credit AND Various Types of setoff available under cenvat credit.Explain with example if possible for yoy sir.
Thank you.
Shyam Kanabar (Article) (160 Points)
28 December 2011Dear sir,
Explian the concept of CENVAT credit AND Various Types of setoff available under cenvat credit.Explain with example if possible for yoy sir.
Thank you.
CA Prabhat Gupta
(Manager (Indirect Taxes))
(821 Points)
Replied 28 December 2011
It's not very complicated Mr. Shyam just go through the CENVAT Credit Rules (especially Rule 3 & 4) . The link to the same is given below:
https://www.cbec.gov.in/excise/cxrules/new-cenvat-rules.htm
cross utilisation of Service Tax Credit & Excise Duty credit is also allowed.