Question

Which tax is generally levied by states on the sale and purchase of land and buildings?

• A. Goods and Services Tax (GST)
• B. State Excise Duty
• C. Stamps and Registration Duty
• D. Service Tax

Answer 1

Answer:

C. Stamps and Registration Duty

• This duty is applied on transactions involving transfer of immovable property and is a significant source of state revenue.