Q. Which of the following is/are production taxes?
1.Tax on profession
2.Land revenues
3.Stamps and registration fees
Choose the correct answer from below given codes:

[A] 1 only

[B] 1 and 2 only

[C] 2 and 3 only

[D] 1, 2 and 3

Answer: D
Notes:

Explanation: Production taxes or production subsidies are paid or received with relation to production and are independent of the volume of actual production.

  • Some examples of production taxes are land revenues, stamps and registration fees and tax on profession.
  • Some production subsidies are subsidies to Railways, input subsidies to farmers, subsidies to village and small industries, administrative subsidies to corporations or cooperatives, etc.
  • Product taxes or subsidies are paid or received on per unit of the product.

Source: TMH Ramesh Singh