Excise duty on a commodity is payable with reference to

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Excise duty on a commodity is payable with reference to its

1. production
2. production and sale
3. production and transportations
4. production, transportation and sale

Correct Option: A

Excise duty is a type of tax charged on goods produced within the country. In India, an excise tax is levied on the manufacturer of goods when those goods leave the place of manufacturer. Formerly called the Central Excise duty, this tax is now known as the Central Value Added Tax (CENVAT).