A) Modified Value Added
B) A term used in excise which is a new scheme of indirect taxes
C) Scheme which allows a manufacturer to claim instant reimbursement of the raw materials used for the production of the final good
D) All of the above
Correct Answer: D
Solution :
MODVAT ( Modified Value Added Tax) is a unique system under Central Excise Rule that permits manufacturers of excisable goods to avail credit of duty paid on the notified inputs received and used in or in relation to the manufacture of final products and to utilise such credit towards the duty liability on removal of final goods.
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