IBPS RRB Office Assistant Model Paper 4
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Question : 105 of 200
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Which of the following is true about Value Added Tax (VAT)?
A. It is a consumption tax levied on value added to the product on every stage ofits production.
B. VAT is levied by the Union Govt and only a small part goes to State Govts.C. The income tax on retailers is now decided on the basis of their VAT collectionin a year.
A. It is a consumption tax levied on value added to the product on every stage ofits production.
B. VAT is levied by the Union Govt and only a small part goes to State Govts.C. The income tax on retailers is now decided on the basis of their VAT collectionin a year.
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