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Value-added tax - Wikipedia


A value-added tax (VAT), known in some countries as a goods and services tax (GST), is a type of tax that is assessed incrementally, based on the increase in value of a product or service at each stage of production or distribution.

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INTRODUCTION. The system of Value Added Tax (VAT) has been implemented, in the State of Maharashtra, w.e.f. 1st April, 2005. INCIDENCE AND LEVY OF TAX

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Ad valorem tax - Wikipedia


An ad valorem tax (Latin for "according to value") is a tax whose amount is based on the value of a transaction or of property. It is typically imposed at the time of a transaction, as in the case of a sales tax or value-added tax (VAT).

Income Tax at a Glance - National Board of Revenue


1 NATIONAL BOARD OF REVENUE Income Tax at a Glance Among direct taxes, income tax is the main source of revenue. It is a progressive tax system.


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