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What is the difference between Cenvat & Modvat?

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Jyoti (Querist)
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08 January 2011
According to my knowledge Cenvat is modified name of Modvat. Cenvat is Central value added tax. It ia a setoff scheme of input credit.

Please tell me the actual difference?

Warm Regards,
Jyoti

CA Shailesh Kumar Bhagat

CA Shailesh Kumar Bhagat (Expert)
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09 January 2011 Cenvet is new name of modvat.

CA Mohd. Ubaid

CA Mohd. Ubaid (Expert)
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09 January 2011 There is no difference between cenvat and modvat. Earlier the credit of central excise was called modvat now it is being called by cenvat.

Jyoti (Querist)
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09 January 2011 Thanks Experts.

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