Taxation: Excise duty in India is a levy on which activity? Distinguish between customs (imports/exports) and excise (domestic manufacture). Choose the correct option.
General Knowledge
Indian Economy
Difficulty: Easy
Choose an option
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AManufacture/production of goods within the country
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BSale of goods at retail counters
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CImport of goods into the country
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DExport of goods out of the country
Answer
Correct Answer: Manufacture/production of goods within the country
Explanation
Concept
- Excise duty (now largely subsumed into GST for most goods) historically taxed manufacture/production domestically, unlike customs (imports/exports).
Final AnswerManufacture/production of goods within the country