On which of the below can an excise duty charged?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. Goods manufactured.
- Excise duty is a type of indirect tax levied or charged by the Central Government of India for the production, sale or license of certain goods.
- In this case, the customer does not pay excise duty directly to the authorities, but is being added to the cost of the product by the producer or the merchant and is then passed on to the consumer in the form of increased prices.