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The CENVAT stands for the Central Value Added Tax which is enforced on the products made in India, which are marketed and sold by various companies. The CENVAT is a simple way by which the government collects taxes from the sellers. The CENVAT has quiet high value when it comes to the economy of the country and the government plays a very important role in getting the taxes collected and used in the welfare of the people of the nation. The tax applied on various goods under the CENVAT lies on the classification by the Excercise Tariff. The CENVAT plays a very significant role in the financial status of the company
You must submit all collected CANVAT to concern department before the due date.
Other Popular CENVAT Full Form / Abbreviation
- Central Value Added Tax