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Which one of the following is NOT a feat...

Which one of the following is NOT a feature of 'Value Added Tax' (VAT)?

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 Central Government and the State Government are only a facilitator for its successful implementation.

Text Solution

Verified by Experts

The correct Answer is:
D
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