what is vat?plz tell the answer
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value-added tax, known in some countries as a goods and services tax, is a type of tax that is assessed incrementally. Like an income tax, it is based on the increase in value of a product or service at each stage of production or distribution
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the full form of VAT is value added tax .
It is the tax on the amount by which the value of an article has been increased at each stage of its production and distribution.
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