Hai, Sir i need diffrence between excise duty and CENVAT (Am getting confuses between these two)because some times i found like Excise duty and some times like CENVAT so help me in this regard Thanks
From India, Bangalore
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From India, Bangalore
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Hi Suresh,
"Excise" is derived from the Latin word "Excisum / Excidere," which means to cut out. Excise duty is a duty levied upon goods manufactured and not upon sales or the proceeds of the sale of goods. It is attracted by the event of manufacture but collected at some convenient stage, which may be after the said event, only for administrative convenience.
Excise duty has been renamed as Central Value Added Tax (CENVAT). CENVAT includes "duty," "duty of excise," or "duties of excise." I hope it is now clear to you that both are one and the same thing.
Thanks & Regards,
Manjay Kumar Sharma | Senior Consultant
E-mail: manjay@malaygauri.com
Skype ID: manjay.sharma73
Mobile: +91-98105 07200
Malay Gauri Consultants Pvt. Ltd
Outsourcing and Consultancy URL: <www.malaygauri.com>
Human Resource URL: [MGcrpo](http://www.mgcrpo.com)
Job portal URL: <www.nayeeraah.com>
From India, Delhi
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19"Excise" is derived from the Latin word "Excisum / Excidere," which means to cut out. Excise duty is a duty levied upon goods manufactured and not upon sales or the proceeds of the sale of goods. It is attracted by the event of manufacture but collected at some convenient stage, which may be after the said event, only for administrative convenience.
Excise duty has been renamed as Central Value Added Tax (CENVAT). CENVAT includes "duty," "duty of excise," or "duties of excise." I hope it is now clear to you that both are one and the same thing.
Thanks & Regards,
Manjay Kumar Sharma | Senior Consultant
E-mail: manjay@malaygauri.com
Skype ID: manjay.sharma73
Mobile: +91-98105 07200
Malay Gauri Consultants Pvt. Ltd
Outsourcing and Consultancy URL: <www.malaygauri.com>
Human Resource URL: [MGcrpo](http://www.mgcrpo.com)
Job portal URL: <www.nayeeraah.com>
From India, Delhi
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