Excise duty on a commodity is payable with reference to Its
(A) production
(B) production and sale
(C) production and transportation
(D) production, transportation and sale
Correct Answer : production
Question Asked : SSC Section Officer (Commercial Audit) Exam 2007
Explanation : An excise or excise tax (sometimes called a duty of excise special tax) is an inland tax on the sale, or production for sale, of specific goods or a tax on a good produced for sale, or sold, within a country or licenses for specific activities. Excises are distinguished from customs duties, which are taxes on importation. Excises are inland taxes, whereas customs duties are border taxes.
....Read more
Useful Quotations for : UPSC, State PSC, IBPS, SSC, Railway, NDA, Police Exams
Like The Facebook Page
CurrentGK for
Current Affairs, Latest GK &
Employment News
Tags : macroeconomics