Question

_______ is chargeable from companies engaged in production of goods at applicable tariffs.

• A. Custom duty
• B. Excise duty
• C. Value Added Tax
• D. Goods & Service Tax

Answer 1

The correct option is D Goods & Service Tax

Goods and Services Tax is an indirect tax levied in India on the supply of goods and services. GST is levied at every step in the production process, but is meant to be refunded to all parties in the various stages of production other than the final consumer.