VAT:- Value Added Tax
As it is very clear from the name VAT is a form of tax which the consumer has to pay while buying any goods. It is basically a consumption tax placed on a product whenever the value is added at each stage of the supply chain, from production to the point of sale.
VAT is a highly efficient tax which over 100+ country worldwide have adopted. It also helps with the GDP of the country. The range of this tax varies 1