Difference between vat & cenvat
This query is : Resolved
22 November 2014
Vat is state levy earlier it was sales tax.
Cenvat is central levy earlier it was central excise.
Cenvat is central levy earlier it was central excise.
22 November 2014
VAT is Value added Tax. VAT is governed by the STATEs.
CENVAT : the phrase is typically used in cenvat credit. It refers to the credit of EXCISE (Now service tax also uses the same phrase as cenvat...input credit)
CENVAT : the phrase is typically used in cenvat credit. It refers to the credit of EXCISE (Now service tax also uses the same phrase as cenvat...input credit)
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