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CENVAT Excise

CA Manish K Dhoot (CA, B. Com, NCFM, CPCM) (5015 Points)

15 September 2010

CENVAT Excise.

What is difference between CENVAT Availed and CENVAT Utilised

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6 Replies

SUBHASHINI (Accounts Manager) (72 Points)
Replied 15 September 2010

Cenvat Availed - taking credit from purchase of raw materials where as

cenvat utilised - adjusting the payment of excise duty & cess amount payable against the cenvat availed

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CA.G.Muguntha Narayanan (Internal Auditor at TVS Motors) (2195 Points)
Replied 15 September 2010

As rightly said by my friend above, cenvat availed is taking the cenvat credit amount at the time of input.. Utilisation amounts to adjusting the E.D. and cess payable against the availed amount

Dinesh Kumar Agarwal (Article clerk) (117 Points)
Replied 15 September 2010

CENVAT Avaailed means credit availbale for utilisation

CENVAT utilisation means availabe credit utilised / adjust with liability for payment of Excise/service tax

CMA Arif Farooqui (Cost Accountant) (4798 Points)
Replied 16 September 2010

well explain by exprets

CA Manish K Dhoot (CA, B. Com, NCFM, CPCM) (5015 Points)
Replied 16 September 2010

Thank u all for ur valuable replies.

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Nitesh kumar (Officer- Indirect Taxation) (31 Points)
Replied 23 September 2010

CENVAT avail means taking credit equal to excise duty already paid on the inputs which is used in or in relation to the manufacture of the dutiable goods. On the other hand CENVAT utilisation is utilising those credit for the payment of central excise duty. So, CENVAT availment is the credit entry and CENVAT utilisation is the debit entry in the RG23 A Part II.