Question

what is vat ? write about it .

Answer 1

hey mate.......


VAT is assessed and collected on the value of goods or services that have been provided every time there is a transaction (sale/purchase). The seller charges VAT to the buyer, and the seller pays this VAT to the government. ... The VAT mechanism means that the end-user tax is the same as it would be with a sales tax.


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Answer 2

hey mate

here is your answer :-

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it seeks to tax the the value added at every stage of manufacturing and sale with a provision of refunding the amount of vat already paid at earlier stages to avoid double taxation .

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ok it may help you

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