Economy : Tax Structure In India
Q 8 / 12
Which one of the following is not a feature of "Value Added Tax"?
A
It is a multi-point destination-based system of taxation
B
It is a tax levied on value addition at each stage of transaction in the production-distribution chain
C
It is a tax on the final consumption of goods or services and must ultimately be borne by the consumer
D
It is basically a subject of the Central Government and the State Governments are only a facilitator for its successful implementation