UPSC Economics Business and Foreign Trade / व्यापार और विदेश व्यापार Question Bank Fiscal and Monetary Policy

  • question_answer
          Value-added tax is

    A) ad valorem tax on domestic final consumption collected at all stages between production and the point of final sale

    B) ad valorem tax on final consumption collected at manufacturing level

    C) tax on final consumption collected at the consumption stage

    D) special tax levied by states on products from other states

    Correct Answer: A


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