question_answer

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