CameraIcon

SearchIcon

MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Components of Tax Invoice

Excise duty t...

Question

Excise duty tax is levied on which of the following?

A

Import of goods

No worries! We‘ve got your back. Try BYJU‘S free classes today!

B

Export of goods

No worries! We‘ve got your back. Try BYJU‘S free classes today!

C

Production of goods

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

D

Sale of goods

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is C Production of goods
Excise duty is a tax on manufacture or production of goods. Excise duty is levied on goods/products like gasoline, tobacco, and alcohol.

Suggest Corrections

thumbs-up

1

Similar questions

Q. Excise duty tax is levied on the _______.

Q. Excise duties are levied on _______________.

Q. MODVAT is different from VAT in the sense that:
1. Under MODVAT, tax is levied only on value addition while under VAT, excise Is imposed on final value and then rebate is given on inputs.
2. MODVAT is only at the production stage white VAT extends both to production and distribution stage.
3. Under MODVAT, excise is levied on final value and then rebate is given on inputs while under VAT, tax is levied only on value addition.
4. MODVAT implies rationalisation of excise duty only while VAT implies rationalisation of excise sales and turnover taxes etc also.

Which of the statements given above are correct?

Q. Excise Duty, Customs Duty, Service Tax, Sales Tax, Purchase Tax, Entry Tax, etc. are examples of ______________.

Q. If final goods attracts an excise duty of Rs. 8000 and Rs. 1050 has already been paid on inputs then the firm will pay the 7000 towards excise duty. It is paying tax according to

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Impurity Defect

MATHEMATICS

Watch in App

explore_more_icon

Explore more

Components of Tax Invoice

Standard X Mathematics

Join BYJU'S Learning Program

CrossIcon