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Reported Question / Answer
Q.) Which of the following is true about Value Added Tax (VAT) ? It is a consumption tax levied on value added to the product on every stage of its production. VAT is levied by the Union Govt. and only a small part goes to State Govts. The income tax on retailers is now decided on the basis of their VAT collection in a year.
1)
Only 1
2)
Only 2
3)
Only 3
4)
All 1, 2 and 3
5)
None of these
Answer :
1
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Human Verification : Answer 2 + 3 = ?
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