Question:
Excise Duty is a tax levied on :
ACommodities that are exported
BCommodities that are imported
CBoth the exported and imported commodities
DCommodities that are produced and consumed within the country
Answer:
D. Commodities that are produced and consumed within the country
Explanation:
An excise or excise tax (sometimes called an excise duty) is a type of tax charged on goods produced within the country (as opposed to customs duties, charged on goods from outside the country). It is a tax on the production or sale of a good. This tax is now known as the Central Value Added Tax (CENVAT).