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Question 109
Read the following
I.Excise duty is a tax on manufacture or production of goods and services
II.Not all kinds of excise duty is collected by the Central Government of India
III.Excise duty is an indirect tax
Which of the statements given above are correct?
Solution
Excise duty is an indirect form of taxation levied on goods and services by the central government. Excise duty on certain items such as alcohol is collected by the state government. All the given statements are true regarding Excise duty. Therefore, option D is the right answer.
GST has subsumed excise duty in most of the places where excise duty was levied.
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