Answer / vaibhav sharma

modvat - exice duty on purchse
and
cenvat - exice duty on sale

Answer / dev

modvat is eralier machanism of input vat & output vat


while cenvat is recent concept of determining the vat
liability

only name changed
not the cocept

Answer / sonal

who ever have ticked the first ans right please confirm
it....name is changed not the concept .

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