Current Affairs

GK MCQs Section
Q. Ad Valorem Tax is levied on the basis of which among the following?
Answer: Value
Notes: Ad valorem tariff is calculated on the basis of the value of the imported good, expressed as a percentage of such value. For example, an ad valorem tariff of 10% on an imported car worth US$ 10000 would lead to a requirement to pay US$ 1000 as customs duty.

This Question is Also Available in:

हिन्दी
Question Source: 📚This question has been sourced from GKToday's "40000+ GK / General Studies MCQs for SSC & State PCS Exams" App Exclusive Course in GKToday Android Application which provides more than 40K General Knowledge and General Studies questions with explanations asked in all Competitive Exams of India. Download the app here.
📌 Question Number: 2 in 42. India's Tax Regime in the above course in App.