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Question
VAT was introduced in ___________.
VAT was introduced in ___________.
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Solution
The correct option is D 2005
VAT (Value Added Tax)was introduced as an indirect tax in the Indian taxation system to replace the existing general sales tax. The Value Added Tax Act (2005) and associated VAT rules came into effect beginning April 1, 2005 in many Indian states.
VAT (Value Added Tax)was introduced as an indirect tax in the Indian taxation system to replace the existing general sales tax. The Value Added Tax Act (2005) and associated VAT rules came into effect beginning April 1, 2005 in many Indian states.
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