1.

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

Answer»

(c) A single tax that replaces State taxes like, surcharge, turnover tax, etc.



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