Economics · Economy

Which of the following statements is/are correct regarding the distinction between manufacturing liability and duty collection in excise law? 1. The legal liability for excise duty is triggered at the moment of manufacture when a new and identifiable product emerges. 2. The point of collection for excise duty occurs at the time of removal from the factory gate, which is distinct from the moment the liability is created. 3. The designation of the removal of goods as the point of duty collection is a procedural arrangement intended for administrative convenience. Select the answer using the code given below: