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cenvat credit

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(Querist)
16 May 2009 what is cenvat credit? when it avail? is there any proceduer of calculation?
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Ankit Dawar

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Ankit Dawar (Expert)
17 May 2009 There is a scheme to avoid cascading of taxes. Therefore, a manufacturer or service provider can avail benefit of taxes paid on input services used for manufacuring goods or providing services and can avail a setoff (reduce) the liability on the output side.
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