[amp_mcq option1=”Custom Duties” option2=”Value Added Tax” option3=”Union Excise Duties” option4=”Central Sales Tax” correct=”option3″]<\/p>\n
The correct answer is (c).<\/p>\n
CENVAT stands for Central Value Added Tax. It is a tax levied on the value added at each stage of production and distribution of goods and services in India. It is a central indirect tax levied by the Central Government of India.<\/p>\n
Custom duties are taxes levied on goods imported into a country. They are designed to protect domestic industries from foreign competition and to raise revenue for the government.<\/p>\n
Value Added Tax (VAT) is a consumption tax that is levied on the value added at each stage of production and distribution of goods and services. It is a destination-based tax, which means that the tax is levied in the country where the goods or services are consumed.<\/p>\n
Central Sales Tax (CST) is a tax levied on the sale of goods from one state to another in India. It is a destination-based tax, which means that the tax is levied in the state where the goods are consumed.<\/p>\n
I hope this helps!<\/p>\n","protected":false},"excerpt":{"rendered":"
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