what is cenvat credit&audit
- 2 Answers
- 5978 Views
- Genpact, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / narendra
cenvat credit is the refund/ adjusment of service tax &
excise duty. as any service service provider & manufaturing
co. company eligible for it .
| Is This Answer Correct ? | 8 Yes | 1 No |
Answer / swathi
cenvat credit is the refund which we get from customs
duty,if your has paid customs duty for the imports of any
goods in the calculation sheet of customs of customs you
nac find the rate of 4%sad on the goods value which will
paid by company.with this 4% there will another charges
also.when you sold the same goods paying output vat in
local,there will option of claiming for 4% from
customs.this is known as cenvat credit.
| Is This Answer Correct ? | 6 Yes | 6 No |
what do you expect to be doing on a day to day basis as a audit trainee?
What areas are your strengths and what areas would you like to develop
how two calculate capital a/c
What is Cash Flow statement? How it can be prepared from Opening & Closing Trial Balance?
1. When is GRN raised? 2. what is the purpose of matching open PO listing against GRIR account?
What is the mean of internal audit?
What are the reasons for getting audited?
tell me in detail about deffered tax asset & deffered tax liability
Why do you want to join the Accounting profession ?
Can we take credit of service tax in manufactruring companies & what is the procedure
Talk about recent developments in the audit field. How do you feel these have effected public sector auditing?
During the year a firm has received TDS of Rs.30 lakhs and out of this an amount of Rs.9 lakhs was adjusted against the taxes. However, in the balance sheet under the head assets,the firm shown Rs.30 lakhs towards TDS. Is it correct. In my openion, in the balance sheet, the assessee has to show only Rs.21 lakhs as asset in the balance sheet, after reducing the tax adjustemnt of Rs.9 lakhs. Pl. Clarify.
Audit 
