Cenvat credit
This query is : Resolved
Maninder Jain
(Expert)
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.
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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