diff. between cenvat & vat.
This query is : Resolved
fraz hasan khan
(Querist)
13 May 2011
what is the diff. between cenvat and vat? kindly explain in brief.
U S Sharma
(Expert)
14 May 2011
Cenvat is "central govt taxes, or excise duty", payable to Govt of india, usually paid by manufacturers on clearence of excisable goods from factory.
Vat is "value added tax, charged by state, payable to state govt, which is the new name of "Sales tax", charged on Sales within state.
Vat is "value added tax, charged by state, payable to state govt, which is the new name of "Sales tax", charged on Sales within state.
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