BUISENESS MANAGEMENT
TAXES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Value-added tax
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Percentage tax
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Excise tax
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Income tax
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Detailed explanation-1: -VAT is a multi-stage tax that is levied at each step of production of goods and services which involves sale/purchase.
Detailed explanation-2: -consumption tax, a tax paid directly or indirectly by the consumer, such as excise, sales, or use taxes, tariffs, and some property taxes (e.g., taxes on the value of a privately owned automobile).
Detailed explanation-3: -Excise Tax is a tax on the production, sale or consumption of a commodity in a country.
Detailed explanation-4: -Which of the following “tax” is levied at every stage of production? Explanation: VAT stands for value added tax and is levied on the every stage of production .
Detailed explanation-5: -Value Added Tax (VAT) is imposed on the sale of movable goods in the nation. VAT is levied at all stages of the production and distribution channel that include an instance of value addition. This tax is levied by the State Governments under Entry 54 of the State List.