Cenvat
This query is : Resolved
27 February 2015
why is excise duty known as CENVAT??? singnificnce of calling this such?
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)
THANKS.
RAJEEV GARG
(ADVOCATE)
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