Now a days channels are uder hues and cries upon imposition of V. A .T And its dire consequences upon commodities. The full form of “VAT” IS “VALUE ADDED TAX”. This system is operative in certain countries where per capita income is too high with many other relief and facilities to public including medical /old age benefits etc.

Most of  us do not know what is this VAT? ? May this example clear concept of VAT….(Value added Tax), which speaks itself that “an additional tax shall be imposed on original value”.! ! Now read this example to understand.In appended example “–LEMON” symbols & means ”GENERAL  PUBLIC”.

“A Real magicians was staging  show. During performance , He took a lemon in hand , squeezed it and challenged mob saying ” if any person could get one drop more ,I will pay $ 500” just now. A tiny feeble person accepted challenge and came on stage. He took that dried, fully squeezed lemon, and pressed skin! Strange enough, 5/6 more drops came out of that lemon!! The juggler shocked, paid him amount and asked ‘Sir, May I know from where you are? That tiny person replied “I am merely an “office boy” in IMF”. Read the rest of this entry