A tax levied as a percentage of the value of the goods, regardless of the number of units produced, is…
An ad valorem tax is assessed as a percentage of the value of goods. A specific duty is instead assessed as a fixed amount per unit, so the distinction concerns the basis on…
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A tax levied as a percentage of the value of the goods, regardless of the number of units produced, is called:
Answer and explanation
Correct answer D
An ad valorem tax is assessed as a percentage of the value of goods. A specific duty is instead assessed as a fixed amount per unit, so the distinction concerns the basis on which the tax is calculated.
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Tamil Nadu SET (TNSET)