GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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sale of commodities
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import of commodities
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export ofcommodities
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production ofcommodities
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Detailed explanation-1: -Excise duty is a tax on manufacture or production of goods. Excise duty is levied on goods/products like gasoline, tobacco, and alcohol. Q. Excise duty tax is levied on the .
Detailed explanation-2: -While excise duty is levied on goods produced or manufactured within the country, custom duty applies to the goods that are sold in India but were produced in a different country. Excise duty is to be paid by the manufacturer of the goods and not by the consumer. Custom duty is to be paid by the importer of the goods.
Detailed explanation-3: -Excise duty on the production of goods is inversly proportional to the square to the no . Of goods producted . A company produce some goods and pay tax in the form of excise duty .