General Studies I
Which one of the following is not a feature of “Value Added Tax” ?
|A||It is a multi-point destination-based system of taxation|
|B||It is a tax levied on value addition at each stage of transaction in the production-distribution chain|
|C||It is a tax on the final consumption of goods or services and must ultimately be borne by the consumer|
|D||It is basically a subject of the Cental Government and the State Governments are only a facilitator for its successful implementation|