what is vat tax?

[niyati]

I am bit confused with vat tax. if anybody know about it pls reply me.

 

[robertwilliam]

Value Added Tax (VAT) is a kind of tax levied by the Central Government of India on the sale of goods/services to customers. Though it is supposed to be paid by the producers of goods and services, it is ultimately levied on the customers who purchase the goods/services when they tend to purchase and pay for them.

 

[maria]

Value Added Tax (VAT) is a kind of tax levied by the Central Government of India on the sale of goods/services to customers. Though it is supposed to be paid by the producers of goods and services, it is ultimately levied on the customers who purchase the goods/services when they tend to purchase and pay for them.

 

[Olivia]

VAT stands for Value Added Tax. It’s a type of tax that is added to the price of goods and services at each stage of production or sale. You usually pay VAT when you buy something, and it’s already included in the final price. It’s collected by the seller and passed on to the government. Simply put, VAT is a tax you pay when you purchase most everyday items.