Budgeting and Fiscal policy

Indian Economic System(CSC) Jharkhand Civil Services (JPSC)

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Indian Economy - Understanding the basics of Indian economic system

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Ad Valorem tax is levied–

According to value given by producers

According to value addition to a commodity

According to value added by the government

According to value added by the Finance ministry

Explanation:

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).

By: Amit Kumar

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