Q. Ad valorem duty is a tax on the basis of which of the following criterias?
Answer: The price of a commodity
Notes: An ad valorem tax is a tax based on the assessed value of an item, such as real estate or personal property. The most common ad valorem taxes are property taxes levied on real estate. However, ad valorem taxes may also extend to a number of tax applications, such as import duty taxes on goods from abroad.

This question is part of 40000+ MCQs GKToday PCS Mock Tests Series in GKToday Android app. Question Number: 28 in GKToday PCS Mock Test - 19 in above course in App.