VAT, also popularly known as goods and services tax (GST) is an indirect tax that is levied according to the value added at different production stages. Value Added Tax (VAT) is a general consumption tax assessed on the value added to goods and services. It is a general tax that applies, in principle, to all commercial activities involving the production and distribution of … [Read more...]
Value added and investment
Value Added Additional value given to a commodity by means of labour or technology so that the character of the commodity is altered. . for example In VAT each stage of value addition is taxed, as is the ultimate consumer. Valuation Reserve Comprising any accumulated depreciation, allowance for bad debts,and any other items charged to expenses, i.e., taken out of the … [Read more...]