Economics · Economy

Which of the following statements regarding the administrative procedures and enforcement of excise duty removal is/are correct? 1. Clandestine removal of goods from the factory gate allows for the confiscation of both the goods/tools and the transport vehicle used under statutory powers. 2. Under the self-assessment system, the assessee calculates their own tax liability, with the department intervening only in cases of suspected error or fraud. 3. For excisable goods removed during the month of March, the duty payment is legally required to be settled by 31st March (or 6th April if processed electronically). Select the answer using the code given below: