Consider the following:
1. Stamp Duty
2. Property Tax
3. Excise Duty
Which among the above is / are “production taxes”?
Kindly understand the difference between Production and Product taxes and subsidies.
Production taxes and subsidies are different from product taxes and subsidies. Production taxes are imposed even if the products are not produced, such as stamp duty and property taxes. On the other hand, the excise duty, value added tax etc. are all product taxes. Production subsidy also differs from Product subsidy. Interest subsidy is not a product subsidy but is a production subsidy.
This question is a part of GKToday's Integrated IAS General Studies Module