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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

Answer: Option D

Solution(By Examveda Team)

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.

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