VAT vs. CENVAT
This query is : Resolved
Guest
Guest
(Querist)
10 March 2011
What is difference between VAT vs. CENVAT?
10 March 2011
VAT - Value Added Tax While CENVAT - Central Value Added Tax
VAT: Value Added Tax VAT is a sales tax collected by the government (of the state in which the final consumer is located) – which is the government of destination state on consumer expenditure.
CENVAT stands for Central Value Added Tax. Actually 'Duties of Excise' are called as CENVAT. It is tax on manufacturing or production of goods as described under The Central Excise Act. CENVAT - Central Value Added Tax CENVAT is the new name for MODVAT.
VAT: Value Added Tax VAT is a sales tax collected by the government (of the state in which the final consumer is located) – which is the government of destination state on consumer expenditure.
CENVAT stands for Central Value Added Tax. Actually 'Duties of Excise' are called as CENVAT. It is tax on manufacturing or production of goods as described under The Central Excise Act. CENVAT - Central Value Added Tax CENVAT is the new name for MODVAT.
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Guest
Guest
(Querist)
10 March 2011
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