What is Cenvat
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Answer / mohan
Central Value Added Tex. A replacement for the earlier MODVAT scheme and is meant for reducing the cascading effect of indirect taxes on finished products. The scheme is a more extensive one with most goods brought under its preview.
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Answer / Km Neha
Cenvat (Central Value Added Tax) is a tax on intra-state supply of goods and services, which is levied under the Central Goods and Services Tax (CGST) Act. It is intended to reduce the cascading effect of taxes and provide input tax credit for smooth flow of tax credits.
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