Tax System

Economic Affairs UPSC Civil Services Examination (General Studies)

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An Ad valorem tax is a tax on the basis of

price of a commodity

unit of a commodity

advertisement expenditure

value added

Explanation:

1st option is correct.
An ad valorem tax is a tax whose amount is based on the value of a transaction or of property. It is typically imposed at the time of a transaction, as in the case of a sales tax or value-added tax (VAT).

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