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Cenvat

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01 August 2015 please explain what meaning of CENVAT and CENVAT CREDIT and CENVAT CREDIT REVERSAL.Thank you for the answer.

02 August 2015 CENVAT Central value added tax, central excise and service tax.
Cenvat credit is input tax credit available for set off against payment of out put tax on central excise and service tax.
Cenvat credit reversal is reversal of wrongly availed cenvat credit.



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