What is the Full Form of VAT ?

VAT - Value Added Tax

Value Added Tax is a form of indirect tax imposed only on tangible goods and products. It does not applies on services, because a service tax is levied separately on them. From the perspective of the buyer, it is a tax on the purchase price. In India, VAT is collected by the Central and state governments, and the rate at which the tax applies varies from state to state.


#1 manitha samdaria 2013-12-21 06:30
useful informations displayed with sweet and short notes

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