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Cin

Cin

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Published by Maruthi Ram
SAP CIN
SAP CIN

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Published by: Maruthi Ram on Sep 12, 2012
Copyright:Attribution Non-commercial

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07/29/2013

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India Localizationwith respect to MM & SD
 
 
What is CENVAT…!?
 
In India, excise duty is a tax on the manufacture of goods that islevied when goods leave the place of manufacture. Manufacturerscan set off the duty paid on input materials against their outputduty, a procedure known as
CENTRAL VALUE ADDED TAX(CENVAT)
 
…CENVAT…?
 
Excise duty is a duty, levied on production or manufacture of goods. It is a tax levied on manufacture of goods and the liabilityto pay excise duty arises immediately on manufacture orproduction of goods
Once manufacture of goods is complete, excise duty is payable,whether the goods are sold or self-consumed. Excise duty doesnot depend on the end use of the goods.
Excise Duty is a tax on manufacture of goods but for the sake of administrative convenience, it is collected only on removable of goods from the factory.
CENVAT Credit

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