Join our Telegram Channel

Question

What is Value Added Tax (VAT)?

A A new tax to be imposed on the producers of capital goods
B A simple, transparent, easy to pay tax imposed on consumers
C A single tax that replaces State taxes like, surcharge, turnover tax, etc.
D A new initiative taken by the Government to increase the tax-burden of high income groups
Answer & Explanation
Option: [C]
Advertisement
GkSeries apsc prelims 2023 test series
Advertisement

Read More Economics Solved Questions

GkSeries Android App

Today's Top Current Affairs

Current Affairs MCQs

State-wise Current Affairs

General Knowledge

Month-wise Current Affairs 2022

Category-wise Current Affairs

Jobs by Qualification

Free Mock Test