Examples of CENVAT in a sentence
The unutilised CENVAT and VAT credit is shown under the head “Loans and Advances”.
H:\B&A 2009\B & A Ltd AR (2009-10) page 1- 46 (original) A-16.6.10b) According to the information and explanations given to us there was no disputed dues of Sales Tax, Income Tax, Customs Duty, Wealth Tax, Excise Duty and Cess as on 31st March, 2012 except an amount of Rs 11,27,944/- (Previous Year Rs 11,27,944/-) on account of CENVAT credit disallowed by the excise authority, for which an appeal is pending before the Central Excise Appellate Tribunal.
The CENVAT and VAT credit available on purchase of raw materials, other eligible inputs and capital goods is utilised against Excise Duty and VAT payable on clearance / sale of goods produced.
CENVAT and VAT Credit available on the material (inputs) is adjusted against purchases.