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excise group

WHAT IS CENVAT?

what is excise group?

what is excise seires?

what are the goods which fall under the category of excise?

what is chapter id term means plz quote an example?

what is depot?

what is partial cenvat?

any example for this ...

what is the meaning of this

as VAT and EXCISE DUTY both are cenvatable

do this mean that both are deductable tax

Edited by: baxter jas on Jan 25, 2008 1:42 PM

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  • Best Answer
    author's profile photo Former Member
    Former Member
    Posted on Jan 29, 2008 at 03:29 PM

    hai

    Mr. Jas

    You have to under stand the Central Excise Duty, Basic Excise Duty (BED) Every manufacturer is liable to pay the excise duty in various kinds namely Basic Excise Duty, Special Excise Duty, Additional Excise Duty, Education Cess and Secondary Education Cess etc.,

    if 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 (RG 23 A for input raw, packing, and other consumable materials & RG 23 C for capital goods) 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 as PLA through TR 6 Chalan.

    For example:

    CENVAT availed at the time purchased various goods Rs.1, 00,000 (Excise duty alone during the period ie. Month/fortnight/daily)

    CENVAT payable for his product at the time sales Rs.1, 50,000

    He will pay only Rs.50000 through cash deposit in PLA.

    Partial Cenvat means:

    Ex:

    Manufacturer received 100 Kgs, of x material from vendor, in that 50 kgs are damaged. So manufacturer will received only 50 kgs material and he will take cenvat as proportionate. (for 50 kgs only).

    Vat and Excise Duty both are cenvatable

    VAT has been levied in certain states from April 1, 2005. VAT is levied instead of the Local Sales Tax (LST) and also replaces other taxes such as, turnover tax, surcharge, additional surcharge

    Vat and Excise duty both are not cenvatable because Excise Duty is levied by Central Govt. of India and Vat is levied by State Govt.

    Excise Duty is only cenvatable.

    Both are Deductable Tax

    What are the goods, which fall under the category of excise? &

    What is chapter id term means plz quote an example?

    All goods are classified using 8 digits system. First 2 digits i.e. 50 related to the chapter number next 2 digits e.g. 04 related to heading of the goods in that chapter next 2 digits indicate sub heading and last 2 digits indicate tariff heading.

    Thus, a 4 digit code is called as heading and 6 digit code is called as sub heading and 8 digit code is called tariff heading.

    Ex: 5004.19.00.

    For each Chapter ID is having different Products

    I hope u got the answer for u r query.

    regards,

    venkat

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  • Posted on Jan 25, 2008 at 07:40 AM

    Hai,

    Please go thro the following link http://help.sap.com/saphelp_erp60_sp/helpdata/en/09/ebf138cdd78a4be10000000a114084/frameset.htm

    which will provide you the complete knowledge of Excise.

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  • author's profile photo Former Member
    Former Member
    Posted on Jan 25, 2008 at 08:16 AM

    Hi,

    U have u look CIN Module notes to clear all this?

    shakir

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