Cenvat credit
This query is : Resolved
17 February 2012
what is the exact meaning of cenvat , mvat cenvat credit
18 February 2012
This question itself reveals that you are new to the indirect taxes.
Let me try to explain.
There are two types of indirect taxes- One is imposed by Central Govt like Excise duty, custom duty & second is imposed by State govt like VAT (previusly known as Sales Tax)
Presently Cenvat (Central Value added tax) is tax levied under Excise & MVAT is tax levied under Maharashtra VAT laws.
Let me try to explain.
There are two types of indirect taxes- One is imposed by Central Govt like Excise duty, custom duty & second is imposed by State govt like VAT (previusly known as Sales Tax)
Presently Cenvat (Central Value added tax) is tax levied under Excise & MVAT is tax levied under Maharashtra VAT laws.
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