Multiple choice general knowledge

Which of the following is a type of tax levied by the Govt. on goods and services ?

  1. SAT

  2. NET

  3. PAN

  4. VAT
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

VAT (Value Added Tax) is a tax levied on goods and services at each stage of production and distribution. It's a consumption tax. PAN is an identification number, NET is a tax deduction, and SAT refers to tax tribunals - none are taxes themselves like VAT.

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