VAT is an example of

1.	VAT is an example of
Answer» Answer: A dealer pays VAT by deducting the tax paid on purchases (input tax) from his tax collected on sales (output tax). In other words, VAT = Output Tax – Input Tax. For example: A dealer pays RS. 10.00 @ 10% on his purchase price of GOODS valued Rs.

Answer»

Answer:

A dealer pays VAT by deducting the tax paid on purchases (input tax) from his tax collected on sales (output tax). In other words, VAT = Output Tax – Input Tax. For example: A dealer pays RS. 10.00 @ 10% on his purchase price of GOODS valued Rs.

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VAT is an example of