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Exise duty is imposed on

  • Sale of an item
  • Production of an item
  • Consumption of an item
  • All of above

Answer: Option B

Explanation:

Exise duty is imposed on Production of an item so it is a commodity tax.

Similar Questions :

1. What is FEMA ?

  • First Exchange Management Act
  • Foreign Exchequer Management Act
  • Foreign Exchange Management Act
  • Foreign Evaluation Management Act

Answer: Option C

Explanation:

FEMA is Foreign Exchange Management Act, it came into force in July 2000. It replaced Foreign Exchange Regulation Act 1973.

2. The data of estimation of India's National income is issued by ?

  • Planning Commision
  • National Data Center
  • Central Statistical Organsation
  • None of above

Answer: Option C

3. The progress in increase of fish production was called

  • Yellow revolution
  • White revolution
  • Brown revolution
  • Blue revolution

Answer: Option D

4. Banking regulation act was passed in ?

  • 1947
  • 1948
  • 1949
  • 1950

Answer: Option C

5. Industrial Finance Corporation of India (IFCI) was established in :

  • 1946
  • 1947
  • 1948
  • 1949

Answer: Option C

Explanation:

Industrial Finance Corporation of India (IFCI) was established in 1948,
Its main functions are Project Finance and Promotional services.

Read more from - Indian Economy Questions Answers
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