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

  • question_answer
          Where was VAT introduced?
    1. France       
    2. USA
    3. Australia    
    4. China

    A) 1 only                          

    B) 1 and 2

    C) 3 only            

    D)        1, 2 and 3

    Correct Answer: A

    Solution :

    It was introduced in France to overcome the cascading effect of several taxes-from raw material to the final product in the process of production,


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