Value Added Tax (VAT) is - Study24x7
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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

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