what is cenvat credit expain it
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Answer Posted / ravindra
cenvat credit generally related to exercise where as the
calculation of cenvat credit is like vat the tax which is
paid at the time of purchase for excise goods and the tax
which need to pay at the time of sales- the tax which is
paid at the time of purchase is known as cenvat credit
while paying the tax three things will be taken in to
consideration.
"As cenvat credit which is availed from excise"
"As the cenvat credit can availed from service tax"
"He can avail either from these if he is not availed
earlier depriciation
so most of them choose which ever amount is lower that
amount they will avail as cenvat credit
cenvat credit - 50% in this year
50% in subsequent years
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