Value Added Tax (VAT)

A type of consumption tax that is placed on a product whenever value is added at a stage of

production and at final sale. Value-added tax (VAT) is most often used in the European Union. The

amount of value-added tax that the user pays is the cost of the product, less any of the costs of

materials used in the product that have already been taxed.

The standard VAT rate is 20%

But still it may differ from category and industry. Please feel free to know VAT for your industry