Consider the following taxes :
1. Stamp Duty
2. Property Tax
3. Excise Duty
Which of the above is/are the production taxes ?
[amp_mcq option1=”1 and 2 only” option2=”2 and 3 only” option3=”3 only” option4=”1, 2 and 3″ correct=”option3″]
This question was previously asked in
UPSC Combined Section Officer – 2024
Production taxes are taxes on goods and services as they are produced, sold, or used, independent of income and property. Excise Duty is a tax on the manufacture or production of goods. Stamp Duty is a tax on the execution of certain documents (like sale deeds, agreements). Property Tax is a tax levied on the ownership of property. Therefore, among the given options, only Excise Duty is directly related to the act of production.