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It contains information viable for credit collection. This information, enables all service providers to collect credit on any tax payable to the service offered.
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What is RG23A?
RG23A is a register which in turn mainatin for CENVAT or INPUT credit taken. The form RG23A is Actually RG23A- Part-I and Part-II and it was required to be maintained by the Central Excise Duty payers. All raw material received is credited RG23a Part-I and issue for production is debited, this is stock register of excisable raw material. RG23A Part-II is the register for Cenvat Credit. Cenvat credit on all raw material is taken in part - II and duty from cenvat credit account is debited. RG23C Part-I is register of capital goods and RG23C Part-II is register of cenvat credit on capital goods.
CENVAT credit utilization scheme?
If any manufacturer purchased a material, which is duty paid, and if it is used for his further manufacturing activity, he can avail this as credit in his book based on the Central Excise Invoice.� At the time of selling his manufactured goods, he is liable to pay the excise duty.� He can adjust the credit which he has taken into his book and pay the rest. For example, CENVAT availed at the time purchased various goods is 20,000. CENVAT payable for his product at the time sales�25,000. In complete he will pay only 5000 through cash deposit in PLA.
Can you avail Cenvat Credit on Original Copy of Invoice?
In normal course we avail the cenvat on duplicate for transporter copy of invoice and the same is lost by the transporter in transit. In that case we can avail the cenvat on original invoice. As such there is no procedures is prescribed for this but to prove our bonafide we have do the following. 1) Take the affidavit from the transporter / driver of vehicle that duplicate for transporter copy of invoice has been lost in transit and; 2) FIR copy lodged by the driver or transporter in the nearby police station, where the invoice has been lost. We have to keep the above two documents in our record along with original invoice. This is require since during the audit department may raise the question for chances of double Cenvat credit on both copes but if the affidavit and FIR copies are attached to original copy its satisfies the audit party and also further litigation of doubt of double Cenvat credit may not be arise.
What is difference between modvat and cenvat?
i tjink there no deference between modvat and cenvat. cenvate is the latest name of modvate
What is cenvat?
Cenvat which is Central Value Added Tax has its origin in the system of Value Added Tax that known as VAT, which is common in West European Countries.
What is the format of each register used in computer and explain it?
register is internal memory inside the cpu.
Can you take Cenvat Credit of Service Tax paid on Outward Freight?
Yes, we can take Cenvat Credit of Service Tax paid on Outward Freight satisfying following 3 conditions. (i) the ownership of goods and the property in the goods remained with the seller of the goods till the delivery of the goods in acceptable condition to the purchaser at his door step; (ii) the seller bore the risk of loss of or damage to the goods during transit to the destination; (iii) the freight charges were an integral part of the price of goods.
Where can one register for the Credit Union bank?
There are several credit unions that are available. One can find one which is convenience for them by looking in their local yellow pages. Typically, one can register for an account directly from the credit union.
How can one register for a virtual credit card?
To register for a virtual credit card you need to find a reputable site that has them. You then open an account at the site and fill out the application form.
What is omnibus credit line?
sample format of letter of credit with omnibus line
Do you need a credit card to register an iPod Touch?
Nope
How do you register for GMAT exams?
You can register online at mba.com test registration by your credit card or you can also register by calling any of the test centers listed in mba.com Thank you,
