Multiple Choice Questions on An Ad valorem tax is a tax on the basis of........ for UPSC Civil Services Examination (General Studies) Preparation

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Multiple Choice Questions

An Ad valorem tax is a tax on the basis of........

Economic Affairs Tax System
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    An Ad valorem tax is a tax on the basis of

    price of a commodity

    Correct Answer

    unit of a commodity

    Incorrect Answer

    advertisement expenditure

    Incorrect Answer

    value added

    Incorrect Answer
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    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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