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Home Practice Tests General Knowledge Practice Tests General Knowledge Quiz - Question & Answers Set - 99
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General Knowledge Quiz - Question & Answers Set - 99

  • Question 1 :
  • 5. What is the Value Added Tax (VAT)?
  • A(A) A single tax that replaces State Taxes like surcharge, turnover tax, etc.
  • B(B) A simple, transparent, easy to pay tax imposed on consumers.
  • C(C) A new initiative taken by the government to increase the tax burden of high income groups.
  • D(D) A new tax to be imposed on the producers of capital goods.