Reaching the High-Hanging Fruits: Reform and Progress in Cenvat Credit Law

Abstract

The CENVAT Credit Rules, 2004 are the fundamental pillar on which the Union Vat System in Central Excise and Service Tax operates. The progress in CENVAT Credit Law will remove visible and invisible tax cascading in both Central Excise and Service Tax and offer a competitive tax edge to Indian exports of manufactured Products as well as Services.