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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 the mainstay of Indian economy ?

  • Manufacturing
  • Business
  • Public sector
  • Agriculture

Answer: Option D

2. National Bank for Agriculture and Rural Development (NABARD) was established in ?

  • 1980
  • 1981
  • 1982
  • 1983

Answer: Option C

3. States earn maximum revenue through

  • Tax Fines
  • Customs
  • License sales
  • Commercial taxes

Answer: Option D

4. 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.

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.

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