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Q. Value-added tax is:

  • (A) A special tax levied by states on products from other states
  • (B) Tax on final consumption collected at the consumption stage
  • (C) An ad valorem tax on final consumption collected at the manufacturing level
  • (D) An indirect tax on the domestic consumption of goods collected at all stages between production and the point of final sale
  • Correct Answer - Option(D)
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  • Filed under category Economic
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