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- Question
Excise duty is a tax levied on the
Options- A. import of goods
- B. export of goods
- C. production of goods
- D. sale of goods
- Correct Answer
- production of goods
ExplanationWhat is Excise Duty? Is it collected by the State Government or the Central Government? How is it different from Sales Tax? Excise duty is a tax on manufacture or production of goods. Excise duty on alcohol, alcoholic preparations, and narcotic substances is collected by the State Government and is called "State Excise" duty. The Excise duty on rest of goods is called "Central Excise" duty and is collected in terms of Section 3 of the Central Excise Act, 1944.Sales Tax is different from the Excise duty as former is a tax on the act of sale while the latter is a tax on the act of manufacture or production of goods.
Reference: http://www.cbec.gov.in/faq.htm
More questions
- 1. Suppose if we measure the time lapse between the two Sunsets by sitting in the beach , from this we can estimate
Options- A. The distance between the sun and earth
- B. The depth of the ocean
- C. The radius of the earth
- D. The radius of the sun Discuss
Correct Answer: The radius of the earth
- 2. What is the capital of Indian Union Territory Lakshadweep ?
Options- A. Port Blair
- B. Delhi
- C. Pondicherry
- D. Kavaratti Discuss
Correct Answer: Kavaratti
- 3. In the following question, out of the four alternatives, select the word similar in meaning to the word given. Stupor
Options- A. Sensibility
- B. Slumber
- C. Liveliness
- D. Consciousness Discuss
Correct Answer: Slumber
- 4. In the following question, out of the four alternatives, select the word similar in meaning to the word given. Subtle
Options- A. Harsh
- B. Open
- C. Ignorant
- D. Understated Discuss
Correct Answer: Understated
- 5. In the following question, out of the four alternatives, select the word opposite in meaning to the word given. Sullen
Options- A. Glum
- B. Silent
- C. Crabby
- D. Agreeable Discuss
Correct Answer: Agreeable
- 6. In the following question, out of the four alternatives, select the alternative which best expresses the meaning of the idiom/phrase. At the drop of a hat
Options- A. Without any hesitation; instantly.
- B. Show outward respect to someone you hate.
- C. Forcibly let go of something which is very personal to you.
- D. A mistake which is of not much consequence. Discuss
Correct Answer: Without any hesitation; instantly.
- 7. In the following question, out of the four alternatives, select the alternative which best expresses the meaning of the idiom/phrase. Beat a dead horse
Options- A. Show extreme level of cruelty especially to animals.
- B. Exploit someone to the point of killing him/her.
- C. To uselessly dwell on a subject far beyond its point of resolution.
- D. To continue playing a game knowing very well that you are going to lose. Discuss
Correct Answer: To uselessly dwell on a subject far beyond its point of resolution.
- 8. In the following question, out of the four alternatives, select the alternative which will improve the bracketed part of the sentence. In case no improvement is needed, select "no improvement". I gave up (drinks) many years ago.
Options- A. to drink
- B. drink
- C. drinking
- D. no improvement Discuss
Correct Answer: drinking
- 9. In the following question, out of the four alternatives, select the alternative which will improve the bracketed part of the sentence. In case no improvement is needed, select "no improvement". Rahul went out without (saying) good bye.
Options- A. say even
- B. even said
- C. say
- D. no improvement Discuss
Correct Answer: no improvement
- 10. In the following question, out of the four alternatives, select the alternative which is the best substitute of the words/sentence. A person or thing that is likely to cause harm
Options- A. Menace
- B. Cordial
- C. Festal
- D. Blithe Discuss
Correct Answer: Menace
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