Indirect Tax

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.

Go Ad-free
CA Maninder Singh's photo - Co-founder, Teachoo

Made by

CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 14 years. He also provides Accounts Tax GST Training in Delhi, Kerala and online.