Which one of the following is not a feature of “Value Added Tax” ?

Question

Which one of the following is not a feature of &ldquo;Value Added Tax&rdquo; ?

Admin · Accepted Answer

It is basically a subject of the Central Government and the State Governments are only a facilitator for its successful implementation

Admin · Answer

It is a multi-point destination-based system of taxation

Admin · Answer

It is a tax levied on value addition at each stage of transaction in the production-distribution chain

Admin · Answer

It is a tax on the final consumption of goods or services and must ultimately be borne by the consumer

Q. Which one of the following is not a feature of “Value Added Tax” ?