What is VAT ?

[champ_guru_24]

Hi All,

VAT as understood by non financial guys is just this "Value added tax". But can any one explain as to what is VAT in lay man's terms? As always, explanation with an e.g will be helpful.

Thanks,
Abhay

[cnubandi]

Hi,

See the link

http://en.wikipedia.org/wiki/Value_added_tax

Befor posting any question ,try to find the answer........

<b>Dont post this type of simple questions.</b>