A value-added tax ( VAT or goods and services tax (GST), general consumption tax (GCT)) is a consumption tax that is levied on the value added at each stage of a product's production and distribution. VAT is similar to, and is often compared with, a sales tax. VAT is an indirect tax, because the consumer who ultimately bears the burden of the tax is not the entity that pays it. Specific goods and services are typically exempted in various jurisdictions. Products exported to other countries ... The full form of VAT is Value Added Tax. Get useful information like VAT rates in India, its importance and types of VAT collection. Learn about Value-Added Tax (VAT ), a levy on goods/services at each production stage, how it impacts your finances, and why it's crucial for global economies. VAT Full Form VAT stands for Value Added Tax. Learn more about VAT full form , what is a VAT indetail. VAT can be abbreviated as Value Added Tax. It is a form of indirect imposition of tariffs while using a product or service.
