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Which one of the following is not a feature of “Value Added Tax”?

Miscellaneous 2011

Options

It is a multi-point destination-based system of taxation

It is a tax levied on value addition at each stage of transaction in the production-distribution chain

It is a tax on the final consumption of goods or services and must ultimately be borne by the consumer

It is basically a subject of the Central Government and the State Governments are only a facilitator for its successful implementation