Question : Excise duty is levied on
Option 1: Sale of goods
Option 2: Production of goods
Option 3: Import of goods
Option 4: Export of goods
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Correct Answer: Production of goods
Solution : The correct option is production of goods
Within a country, the manufacture and manufacturing of goods is subject to an indirect tax known as excise duty. Excise taxes serve as a source of funding for governments and limit the use of goods that may have fatalistic social or environmental effects, such as cigarettes, alcohol and petroleum products.
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Question : In India, which of the following taxes is levied by the state government?
Option 1: Excise duty on liquor
Option 2: Capital gains tax
Option 3: Customs tax
Option 4: Corporation tax
Question : Tax on inheritance is called
Option 1: Excise duty
Option 2: Estate duty
Option 3: Gift tax
Option 4: Sales tax
Question : Which of the following is not an indirect tax?
Option 1: Excise tax
Option 2: Goods and services tax
Option 3: Customs duty
Option 4: Wealth tax
Question : Which of the following sets of taxes belongs to the Central Government?
Option 1: Excise duty, sales tax and custom duty
Option 2: Income tax, custom duty and house tax
Option 3: Excise duty, custom duty and income tax
Option 4: Custom duty, entertainment tax, and income tax
Question : Which among the following is the tax levied by the center and not shared with states?
Option 1: Sales tax
Option 2: Excise duty
Option 3: Corporation tax
Option 4: Income tax
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