Q702
Modvat is
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 excise duty paid on the raw
D.
All of the above
AnswerAnswer: Option D
Solution
Answer: Option D
Solution:
Modvat is modified value added, a term used in excise which is a new scheme of indirect taxes and scheme which allows a manufacturer to claim instant reimbursement of the excise duty paid on the raw.