Question
General Knowledge Question on Business and Economy
Recently VAT was introduced in India. Choose the correct statement.
A
VAT has replaced Sale Tax in all states of India
B
VAT is charged in place of Sales Tax only in some states of India.
C
VAT is charged in addition to Sales Tax in all states of India
D
VAT is charged in addition to Sales Tax in some states of India.
Answer
VAT is charged in place of Sales Tax only in some states of India.
Explanation
Solution
The correct option is (B): VAT is charged in place of Sales Tax only in some states of India.