Question

Define Input Tax related to VAT.

Answer 1

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The tax paid by a dealer on his/her purchases of goods for resale(subject to tax under VAT) during any fixed tax perios is called Input Tax. The Input Tax is calculated on all taxable purchases at the applicable tax rates.

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Answer 2

Step-by-step explanation:

VAT means value added tax this is related to production to chain of sale . The rates of VAT thar the user pay is on the cost of the product