Economics · Economy

Which of the following statements is/are correct regarding the legal definition and interpretation of 'Manufacture' in Excise Law? 1. The legal definition of 'Manufacture' under Section 2(f) requires that a process must result in a new and identifiable product. 2. For a process to be recognized as manufacture, the resulting item must possess a different name, character, or use from the original material. 3. Processes such as labeling, re-labeling, or re-packing are legally classified as 'Deemed Manufacture' under specified circumstances even if no chemical change occurs. Select the answer using the code given below: