Under ______ method of VAT levy in India, the rate of tax is applied to the difference between the value of output and the cost of input

CS Executive · Tax Laws and Practice · PYQS · June 2015
Under ______ method of VAT levy in India, the rate of tax is applied to the difference between the value of output and the cost of input
(A) Invoice
(B) Addition
(C) Subtraction
(D) Tax credit.

Answer & Explanation:

Correct Answer: Option (C)

Official answer key: (C).

Topics: VAT

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