General Knowledge - Basic General Knowledge - Discussion

66. 

Value Added Tax (VAT) is

[A]. indirect tax levied at each stage of production and distribution, from the primary produce to the retailer
[B]. 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
[C]. both (a) and (b)
[D]. None of the above

Answer: Option C

Explanation:

No answer description available for this question.

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