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    Question

    General sales tax is a form of:

    A Stamp Duty Correct Answer Incorrect Answer
    B Consumption Tax Correct Answer Incorrect Answer
    C Corporate Tax Correct Answer Incorrect Answer
    D Estate Duty Correct Answer Incorrect Answer

    Solution

    General Sales tax (GST) is a form of consumption tax . From the perspective of the buyer, it is a tax on the purchase price. From that of the seller, it is a tax only on the value added to a product, material, or service, from an accounting point of view, by this stage of its manufacture or distribution.

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