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CENVAT credit

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Guest (Querist)
08 February 2011 can any1 please tell me what's CENVAT credit?
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
09 February 2011 CENVAT means Central Value added tax,it is applicable for Excise, service tax & customs, it benefit of tax input, suppose you are purchase some material by paying excise duty or service tax the same tax payment can be adjusted with duty payable on your sale or service (only Excise, service tax)
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