Which one of the following is not afeature of "Value Added Tax" ?1).It is multi-point destinationbasedsystem of taxation2). It is a tax levied on value additionat each stage of transaction in theproduction distribution chain.3). It is a tax on the final consumptionof goods or services and mustultimately be borne by theconsumer.4). It is basically a subject of thecentral government and the stategovernments are only a facilitatorfor its successful implementation

Which one of the following is not afeature of "Value Added Tax" ?1).It

1.	Which one of the following is not afeature of "Value Added Tax" ?1).It is multi-point destinationbasedsystem of taxation2). It is a tax levied on value additionat each stage of transaction in theproduction distribution chain.3). It is a tax on the final consumptionof goods or services and mustultimately be borne by theconsumer.4). It is basically a subject of thecentral government and the stategovernments are only a facilitatorfor its successful implementation
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