Multiple Choice Questions on Consider the following statements 1 The excise duty is a value added tax levied at th........... for UPSC Civil Services Examination (General Studies) Preparation

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Multiple Choice Questions

Consider the following statements 1 The excise duty is a value added tax levied at th...........

Economic Affairs Tax System
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    Consider the following statements:

    1.    The excise duty is a value added tax levied at the point of production.

    2.    The tax applies to the value addition declared at factory gate.

    Select the correct statement from the following codes:

    1 only

    Incorrect Answer

    2 only

    Incorrect Answer

    Both 1 and 2

    Correct Answer

    None of the above

    Incorrect Answer
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    Explanation:

    Both statements are correct. 

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