Which one of the following is not a feature of "Value Added Tax"?
AIt is a multi-point destination-based system of taxation
BIt is a tax levied on value addition at each stage of transaction in the production-distribution chain
CIt is a tax on the final consumption of goods or services and must ultimately be borne by the consumer
DIt is basically a subject of the Central Government and the State Governments are only a facilitator for its successful implementation
Answer & Solution
Correct answer: D. It is basically a subject of the Central Government and the State Governments are only a facilitator for its successful implementation
UPSC CSE Prelims 2011 (GS-I, Set A), Q.16. Official answer key: D.
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