Q. What is Value Added Tax (VAT)? (Solved)
1. A simple, transparent, easy to pay tax imposed on consumers
2. A new initiative taken by the Government to increase the tax-burden of high income groups
3. A single tax that replaces State taxes like, surcharge, turnover tax, et
4. A new tax to be imposed on the producers of capital goods
- c. A single tax that replaces State taxes like, surcharge, turnover tax, etc.