Excise Duty is a tax levied on :

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ACommodities that are exported

BCommodities that are imported

CBoth the exported and imported commodities

DCommodities that are produced and consumed within the country

Answer:

An excise or excise tax (sometimes called an excise duty) is a type of tax charged on goods produced within the country (as opposed to customs duties, charged on goods from outside the country). It is a tax on the production or sale of a good. This tax is now known as the Central Value Added Tax (CENVAT).

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ഒക്ട്രോയ് നികുതി ചുമത്തുന്നത് ആര് ?

Consider the following statements regarding the ‘Progressive taxation’:

I.Progressive taxation method has increasing rates of tax for increasing value or volume on which the tax is being imposed.

II.Progressive taxation method has increasing rates of tax for decreasing value or volume on which the tax is being imposed.

III. The idea of Progressive taxation is less tax on the people who earn less and higher tax on the people who earn more.

Which of the following statement(s) is/are correct?