Answer Posted / saroja.m

cenvat credit as well as service tax is paid on the products
manufactured and services provided. the tax paid on inputs,
raw materials, capital goods and input services- utilized in
manufacture of final products of a manufacturer and services
provided are allowed to be deducted/ allowed as credit
against the central excise/ service tax liability of a
manufacturer/ service provided. the scheme was introduced
for avoiding multi level taxation on same product or
service, also called cascading effect.
As regards exports, central excise duty is nil. duty
drawback is paid by govt. to exporters.

What is general ledger account?

1077

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I am a Leaving Cert Student. From Solutions to exam questions etc. I know what to do with the following adjustment but I cannot explain why. A thypical Adjustment is: A building is acquired for €60000 plus VAT at 10%. The amount paid to the Vendor was entered in the Buildings Account. No entry made in the VAT account. Could you explain why the VAT amount is deducted from the VAT amount in the TB? And why it is sometimes an Asset in the BS. Thank you, Mary

1811

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What is the definition of accounting?

1087

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how to calculate the rate of hard ,soft and very very hard rock rate of cubic meter

1571

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Explain a time when you have not met your goal?

1093

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Is it necessary after every journal entry to show its treatment in P&L a/c? Eg. if I am asked to show journal entry of purchasing furniture & fixture on 1st Aug 06, i.e. Furniture & fixture a/c Dr. To cash/bank a/c Along with this, I have to pass following journal entry on 31st Mar 07?? P&L a/c Dr. To Furniture & fixture a/c

1529

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can i material bill book in miro without vat on transport charges ?

2043

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Do is it proper fo an engineer to head a bank without a good backgroud in accounting? ?

1904

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Why company issue shares at discount as its a loss ?

3044

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Tell me which accounting application you prefer most and why?

942

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how many view the tally backup erp9 after the tally backup in tally

1913

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PLEASE CLEARLY EXPLAIN WHAT IS MEANT BY TDS,CST,ADVANCE TAX,PF,PT,ESI.CLEARLY AS IF EXPLAINING TO LAY MAN

2590

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What is normative accounting?

1012

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We have purchased some good from our vendor and we asked them to transport the same to some address but they have raised a debit note to us for transportation instead of invoice. Same like we have given some order to manufacture for developing that product they have charged some amount for that also they have raised the debit note. How to account these type of debit notes in tally..?

1786

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WHAT IS THE PORTFOLIO MANAGMENT SCHEMES ? ITS WHICH TYPES INCOME ?

1893

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