What is value added tax (VAT)

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What is value added tax (VAT)

Posted by Elius Ahmed 6 years, 8 months ago

CBSE > Class 08 > Mathematics

3 answers

Aashu Kumar 6 years, 8 months ago

A tax on the amount by which the value of an article has been increased at each stage of its production or distribution.A value-added tax, known in some countries as a goods and services tax, is a type of tax that is assessed incrementally, based on the increase in value of a product or service at each stage of production or distribution.?????

2Thank You

Yogita Ingle 6 years, 8 months ago

Value added tax in short known as VAT.
The manufacturer or importer of goods (wholesaler or stockist) was liable to pay sales tax to the government. Value added tax is the tax that is realized by the government at many points in the supply chain, right from the manufacturer to the retailer. Only the value added to the commodity at each stage is subjected to sales tax. The final incidence of sales tax remains with the consumer.

It is a tax on the value added at each transfer of goods, from the original manufacturer to the retailer.

4Thank You

Yogita Ingle 6 years, 8 months ago

Value added tax in short known as VAT.

The manufacturer or importer of goods (wholesaler or stockist) was liable to pay sales tax to the government. Value added tax is the tax that is realized by the government at many points in the supply chain, right from the manufacturer to the retailer. Only the value added to the commodity at each stage is subjected to sales tax. The final incidence of sales tax remains with the consumer.

It is a tax on the value added at each transfer of goods, from the original manufacturer to the retailer.

2Thank You

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CBSE > Class 08 > Mathematics