Regards AKM ??? 1986 MODIFIED VALUE ADDED TAX i.e. MODVAT INTRODEUCED BY THE CENTRAL GOVERNMENT WHICH ENABLED THE MANUFACTURERS TO AVAIL CREDIT OF EXCISE DUTY PAID ON THE INPUT USED IN OR IN RELATION TO MANUFACTURE OF END PRODUCT ??? OFFSET OF DUTY PAID ON INPUT STAGE AGAINST DUTY PAYABLE AT THE FINAL STAGE. ??? IN 1994, MODVAT WAS EXTENDED TO CAPITAL GOODS ??? MODVAT SCHEME WAS RECHRISTENED TO BE