What is the difference between Cenvat & Modvat?
This query is : Resolved
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
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
09 January 2011
Cenvet is new name of modvat.
CA Mohd. Ubaid
(Expert)
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.
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