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.
Consider the following taxes : 1. Stamp Duty 2. Property Tax 3. Excise Duty Which of the above is/are the production taxes ?
Asked in UPSC Combined Section Officer 2024 · Topic: Fiscal Policy & Revenue (Sources of Government Revenue: Tax and Non-Tax Revenue)
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