what is cenvat credit&audit

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what is cenvat credit&audit..

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

what is cenvat credit&audit..

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

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