on 12-22-2007 11:25 AM
Dear All,
Please explain me what is cenvat??
CENVAT Means - the assessee has to obtain a duty paid invoice from the consignor and then he can take credit of such duty amount in the account maintained for this purpose and the same can be utilized by him for the payment of the duty on the goods from his factory. This credit is called CENVAT.
Reward Points please if this helps... Chirdeep
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Dear Ramesh
Go thru the link
[CENVAT|http://www.epw.org.in/epw/uploads/articles/5069.pdf]
Thanks
G. Lakshmipathi
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Object documentation CENVAT Document Locate the document in its SAP Library structure
Definition
An accounting document that the system automatically creates when it generates a Part II entry.
Use
Customizing
Specify which document type you want the CENVAT documents to use, in Customizing for Logistics General, by choosing Taxes on Goods Movements ® India ® Basic Settings ® Maintain Company Code Settings.
Day-to-Day Activities
When the system generates a Part II entry for an incoming excise invoice, it creates a CENVAT document to debit the excise duty to the excise duty account, and credit it to the CENVAT clearing account:
This graphic is explained in the accompanying text
The excise duty is cleared from the clearing account when the accounting clerk enters the vendor invoice.
When the system generates a Part II entry for an outgoing excise invoice, it creates a CENVAT document to debit the excise duty to the excise duty account, and credit it to the CENVAT suspense account:
This graphic is explained in the accompanying text
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