state gov Kerala (കേരളം) PSC Divisional Accountant Test Series 2025 General Knowledge Economy Money and Banking
Which one of the following is not a feature of "Value Added Tax"?
1
It is a multi-point destination-based system of taxation.
2
It is a tax levied on value addition at each stage of transaction in the production-distribution chain.
3
It is a tax on the final consumption of goods or services and must ultimately be borne by the consumer.
4
It is basically a subject of the Central Government and the State Governments are only a facilitator for its successful implementation.