BANKING AFFAIRS

Detailed explanation-1: -Value-added tax (VAT) is one such example. VAT is a tax that arises during the supply chain in the production of a good or service.

Detailed explanation-2: -Value Added Tax in India (VAT)-Value Added Tax Returns, Rates & VAT Calculation-ICICI Bank.

Detailed explanation-3: -Overview. Value-Added Tax (VAT) is a tax, which is payable on sales of goods or services within the territory of the Member States of the EU. The tax, in all cases, is ultimately payable by the final consumer of the good or service.

Detailed explanation-4: -WHAT IS VALUE ADDED TAX (VAT)? A value-added tax (VAT) or also General Sales tax (GST) is a form of consumption tax. From the perspective of the buyer, it is a tax on the purchase price.

Detailed explanation-5: -VAT or value-added tax, is a common form of indirect tax levied on services and goods. It is paid to the government by the producers at every stage in the supply chain. VAT tax is applicable only on goods sold within a particular state, which means that the buyer and the seller need to be in the same state.