Question (7/48)
Which of the following is not a feature of 'Value Added Tax' (VAT) ?(A) It is multi point destination based system of taxation
(B) It is tax levied on value addition at each stage of trasaction in the production distribution chain
(C) It is basically a subject of the central government and the state governments are only a facilitator for it's successful implementation
(D) It is tax on final consumption of goods or services and must ultimately be born by the customer
Question (8/48)
Which of the following is indirect tax in India?(A) Income Tax
(B) Customs Duty
(C) Wealth Tax
(D) Corporation Tax