Concept of Cenvat on Inputs - Excise

Excise is not used in India anymore.

It is replaced by GST

Please check https://www.teachoo.com/4871/1946/Concept-of-Cenvat-on-Inputs-for-Manufacturers/category/GST-Implications-For-Factories/

 

Download And Try

Q1

Purchase Raw Material

Sales Finished Goods

What is Excise Duty Payable

What is Vat Payable?

Q2

What is Excise Duty Payable?

Note;-
No Input of Goods Used in Office

However,Input Available of Goods Used in Production or Sales like
Raw Material- Items Present in Finished Goods
Consumables- Items Consumed in Production
Packing Material- Items Used to Pack Finished Goods

What is Vat Payable?

Q3

What is Excise Duty Payable

Note;-
If a factory purchases goods from Dealers ,only Vat is charged which cannot be charged against excise
No Input of Vat Against Excise
However,Input of Vat can be utilized against Output Vat as below

What is vat Payble ?