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Indirect Tax
Vat

VAT means Value Added Tax

It is a tax on value added during each stage of production or distribution chain.

VAT is a consumption tax because it is ultimately born by consumer or end customer.

In India, it means tax on sale of goods within state.

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CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 12 years. He also provides Accounts Tax GST Training in Delhi, Kerala and online.