How does the consumer benefit with VAT? [CPO SI 2003]

Related MCQs

• MODVAT is different from VAT in the sense that: 1. under MODVAT, tax is levied only on value addition while under VAT, excise is imposed on final value and then rebate is given on inputs 2. MODVAT is only at the production stage while VAT extends both to production and distribution stage 3. under MODVAT, excise is levied on final value and then rebate is given on inputs while under VAT, tax is levied only on value addition 4. MODVAT implies rationalization of excise duty only while VAT implies rationalization of excise, sales and turnover taxes etc. also Choose correct answer from:
• India had a plan holiday: [CPO AC 2003]
• Which of the following groups suffer the most from inflation? [CPO SI 2003]
• The situation with increasing unemployment and inflation is termed as: [CPO AC 2003]
• The central banking functions in India are performed by the: [CPO AC 2003]
• The basic attribute of a formal organization is : [CPO AC 2003]
• If the price of an inferior good falls, its demand: [CPO SI 2003]
• The existence of a Parallel Economy or Black Money: [CPO SI 2003]
• Gross National Product at market prices is defined as : [CPO AC 2003]
• VAT is alternate of: