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Q.

How does the consumer benefit with VAT ?

A With the abolition of the sales tax
B As compared to other taxes, there is a less chance of tax evasion. VAT minimizes tax evasion due to its catch-up effect. It reduces the cost of production
C Due to the exemption of small businesses from the tax within certain limits prescribed by the State
D None of these
Answer & Explanation
Option: [B]

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