When we are talking about Victory Points scored for a unit, this includes the unit's basic cost as well as any upgrades bought for it like Command Group models, weapon/armour upgrades, mounts and Magic Items.

Some army books allow certain units to buy additional models for them that operates like their own unit, such as Night Goblin Fanatics or Skaven Weapon Teams. In this case, Victory Points are rewarded separately for these additional models and the main unit they were bought with.