Economics · Economy
Which of the following statements is/are correct regarding the Central Excise Tariff Act (CETA) of 1985? 1. The primary role of the Central Excise Tariff Act, 1985 is to specify the particular tax rates and classification for different categories of goods. 2. To be classified as 'excisable goods', items must be specified in the Schedule of the Central Excise Tariff Act. 3. Basic Excise Duty (BED) is identified as the standard rate of duty prescribed within the Tariff Act. Select the answer using the code given below:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 11 and 3 only
- 21, 2 and 3✓
- 32 and 3 only
- 41 and 2 only
Correct answer
1, 2 and 3
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