Interested to Buy Any Domain ? << Click Here >> for more details...
Basic difference between CENVAT AND CST ?
- 2 Answers
- 18982 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / madhulika2011
Difference between CENVAT & CST....
CENVAT..(Central VAT)...A manufacturer of final product or provider of taxable service shall be allowed to take credit of duty of excise as well as of service tax paid on any input received in the factory or any input service received by manufacturer of final product.
CST (Central Sales Tax)... The tax is collected at one stage of purchase or sale of goods. Therefore, the burden of the full tax bond is borne by only one dealer, either the first or the last dealer.
An Act to formulate principles for determining when a sale or purchase of goods takes place in the course of inter-state trade of commerce or outside a State or in the course of imports into or export from India, to provide for the levy, collection and distribution of taxes on sales of goods in the course of inter-state trade of commerce and to declare certain goods to be of special importance in inter-state or commerce and specify the restrictions and conditions to which state lawsimposing taxes on the sale or purchase of such goods of special importance shall be subject.
| Is This Answer Correct ? | 13 Yes | 6 No |
Answer / s.n.dutta
CENVAT..(Central VAT)...A manufacturer of final product or
provider of taxable service shall be allowed to take credit
of duty of excise as well as of service tax paid on any
input received in the factory or any input service received
by manufacturer of final product.
CST (Central Sales Tax)... The tax is collected at one stage
of purchase or sale of goods. Therefore, the burden of the
full tax bond is borne by only one dealer, either the first
or the last dealer.
An Act to formulate principles for determining when a sale
or purchase of goods takes place in the course of
inter-state trade of commerce or outside a State or in the
course of imports into or export from India, to provide for
the levy, collection and distribution of taxes on sales of
goods in the course of inter-state trade of commerce and to
declare certain goods to be of special importance in
inter-state or commerce and specify the restrictions and
conditions to which state lawsimposing taxes on the sale or
purchase of such goods of special importance shall be subject.
| Is This Answer Correct ? | 1 Yes | 6 No |
1.In SAP T-code MIR 44 is used for what purpose? 2. What are the entires for Depreciation? 3.Trade discount comes under; a.trading account b.P/L account c. balance sheet 4. T- code F-44 is used to reverse po entry?
fill in the Blanks Recognising Revenues when cash is received is __________basis of accounting
What is a ‘ratio’?
what is pripaid expences nd difference bteween pripaid and advance
what is assessment
how many schedules are there in accounting?
what is the difference between depreciation and amortnisation
What is Merger?
How many accounting standards issued by ICAI?
what is difference between acquitision and take over?
what is span of shares
What are the objectives of accounting
Audit 
