What is the facility for mitigating the cascading effect of duty? What is CENVAT?
A.13 Subject to prescribed conditions, the assessee has to obtain a duty paid invoice from the consignor and then he can take credit of such duty amount in the account maintained for this purpose and the same can be utilized by him for the payment of the duty on the goods from his factory. This credit is called CENVAT. Please consult the nearest Central Excise Range Office for further information.
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- What is the facility for mitigating the cascading effect of duty? What is CENVAT?
