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Indian Economy MCQ
1. What is the Value Added Tax (VAT)?
(A): (A) A single tax that replaces State Taxes like surcharge; turnover tax; etc.
(B): (B) A simple; transparent; easy to pay tax imposed on consumers.
(C): (C) A new initiative taken by the government to increase the tax burden of high income groups.
(D): (D) A new tax to be imposed on the producers of capital goods.
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