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Which one of the following is NOT a feature of 'Value Added Tax' (VAT)?
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- It is a multi-point destination-based system of taxation
- It is fax levied on value addition at each stage of transaction in the production- distribution chain
- It is a tax on the final consumption of goods or services and must ultimately be borne by the consumer
- It is basically a subject of the Central Government and the State Government are only a facilitator for its successful implementation
Correct Option: D
N/A
