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General Knowledge - Basic General Knowledge - Discussion

Discussion Forum : Basic General Knowledge - Section 8 (Q.No. 66)
Basic General Knowledge
66.
Value Added Tax (VAT) is
indirect tax levied at each stage of production and distribution, from the primary produce to the retailer
tax calculated on the selling price, but in declaring the liability to the government, the seller is allowed to deduct any tax paid by him when he bought the goods
both (a) and (b)
None of the above
Answer: Option
Explanation:
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