1.

What is value Added Tax (VAT)?                                                                                                                                     [SSC Tax Assistant 2006]

A. A simple transparent, easy to pay tax imposed on consumers
B. A new initiative taken by the government to increase the tax burden of high income groups
C. A single tax that replaces state taxes like, surcharge, turnover tax etc.
D. Anew tax to be imposed on the producers of devaluation of currency is
Answer» B. A new initiative taken by the government to increase the tax burden of high income groups


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