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VAT- Legislative Background, 10 Question Quiz!

VAT- Legislative Background, 10 Question Quiz!

VAT was introduced in 2003 but its background was from 1992. Many countries in the world have implemented this type of concession. Implementation of this concepts was very successful as it helped to avoid many defects of existing taxation on sale of goods.

Various committees were formed. The discussion was so long and it has taken more than a decade to come into picture. No doubt, this taxation reform has helped the economy in various ways by eliminating various hurdles in ease of business but still its not perfect reform.

Here is a quiz to check your knowledge on legislative background of VAT!

Take This Challenge !

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