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Cenvat

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(Querist)
27 February 2015 why is excise duty known as CENVAT??? singnificnce of calling this such?
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Rajeev Kumar Garg

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Rajeev Kumar Garg (Expert)
02 March 2015 CENTRAL EXCISE DUTY IS APPLICABLE ON SALE VALUE OF MANUFACTURED GOODS UNDER CONTROL OF CENTRAL GOVERNMENT. NET EFFECT OF DUTY COMES ON VALUE ADDITION OF THE GOODS. SO CENVAT DENOTES "CENTRAL VALUE ADDED TAX."
THANKS.
RAJEEV GARG
(ADVOCATE)
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