Economics · Economy
Within the historical evolution of Indian excise duty, what primary modification characterized the transition to the CENVAT system in the year 2000?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The integration of customs duty with central excise assessments
- 2The unification of tax credit for both inputs and capital goods✓
- 3The conversion of all specific duties into ad-valorem rates
- 4The extension of the excise net to cover the agricultural sector
Correct answer
The unification of tax credit for both inputs and capital goods
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