By nature the Value Added Tax (VAT) is a :

CS Executive · Tax Laws and Practice · PYQS · June 2017
By nature the Value Added Tax (VAT) is a :
(A) Expenditure Tax
(B) Income Tax
(C) Consumption Tax
(D) Cascading Tax

Answer & Explanation:

Correct Answer: Option (C)

Official answer key: (C).

Topics: Value Added Tax (VAT)

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