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CENVAT is related to which of the following ?
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- Sales Tax
- Excise Duty
- Custom Duty
- Service Tax
- Sales Tax
Correct Option: B
Central Value Added Tax (CENVAT), popularly known as Central Excise Duty, is a duty on the manufacture/ production of goods in India. It is an adaptation of VAT, which came into force in the country in 1986 in the form of MODVAT (Modified Value Added Tax). MODVAT was re-named as CENVAT on 1 April 2000.
