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Cenvat credit

This query is : Resolved 

17 February 2012 what is the exact meaning of cenvat , mvat cenvat credit

18 February 2012 This question itself reveals that you are new to the indirect taxes.

Let me try to explain.

There are two types of indirect taxes- One is imposed by Central Govt like Excise duty, custom duty & second is imposed by State govt like VAT (previusly known as Sales Tax)

Presently Cenvat (Central Value added tax) is tax levied under Excise & MVAT is tax levied under Maharashtra VAT laws.


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