Given below are two statements: Assertion (A): Excise duty is levied on the manufacture or production of goods. Reason (R): The taxable event for collection and payment of excise duty arises upon the removal of goods from the factory gate. Choose the correct option:

Question

Economics · Economy

Verified Solution4 OptionsUpdated: October 2026👁️1 View

Share:

Correct answer

Both A and R are true but R is not the correct explanation of A

Save this question and verified answer as a clean study sheet with live clickable link.

👥

Challenge your peer aspirants on WhatsApp or Telegram to solve this question!

Online Test Series

Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.

Chapter Practice

Want more practice questions on Economy?

Solve complete topic-wise tests with detailed solutions on GkGet.

Recommended practice questions in Economics · Economy

Which movement aimed to promote Khadi, a hand-spun and handwoven cloth native to India?

Who were prominent leaders associated with the initial phase of the Telangana Rebellion (1946-1951) against the Nizam's rule and feudal landlords?

What was the immediate trigger for the Revolt of 1857?

Answer 1

A is false but R is true

Answer 2

A is true but R is false

Answer 3

Both A and R are true but R is not the correct explanation of A

Answer 4

Both A and R are true and R is the correct explanation of A

Related Practice Questions