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Is there any different between Modvat & Cenvat...?
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Answer Posted / h.r. sreepada bhagi
Earlier Central Excise was called MODVAT (Modified value
Added Tax), subsequently the name has been changed as CENVAT
(Central Value Added Tax Act). In India MODVAT has beeen
replaced by CENVAT and it's a Central Government levy on the
manufactured goods. On imported goods CVD (Countervailing
Duty) is levied in line with Central Excise duty.
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