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Economics miscellaneous

  1. Excise duty on a commodity is payable with reference to its
    1. production
    2. production and sale
    3. production and transportation
    4. production, transportation and sale
Correct Option: A

An excise or excise tax (sometimes called a duty of excise special tax) is an inland tax on the sale, or production for sale, of specific goods or a tax on a good produced for sale, or sold, within a country or licenses for specific activities. Excises are distinguished from customs duties, which are taxes on importation. Excises are inland taxes, whereas customs duties are border taxes.



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