Answer: Excise Duty
Notes: Central Value Added Tax (Cenvat), popularly known as Central Excise Duty, is a duty on the manufacture/production of goods in India. It reduces the tax burden of the consumer while purchasing any product and presents a transparent picture of the tax liabilities on each. production stage. It is a variation of VAT, which came into force in the country in 1986 as MODVAT (Modified Value Added Tax). Modvat was renamed as CENVAT on 1st April 2000.
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