Today, Value Added Tax is known as the Goods and Services Tax or GST in India. It applies to a product or service at different stages of manufacturing, distribution and sale where value is added. It is charged by the central government and is paid by end consumers who make a purchase.
Post Type Archives: Glossary
Variable Cost
Variable cost is a type of cost that changes in proportion to the level of production or sales, unlike a fixed cost. It includes operational costs such as raw materials, labour and other expenses that vary with the volume of output. For instance, for a manufacturer of leather shoes, the variable cost will include the …