Which type of tax is imposed on specific goods and services at the time of purchase?

Question 12 options:

Estate

Excise

General sales

Value-added

The correct answer is C, General Sales Tax.

Explanation:

The tax which is imposed at the time of purchasing a good or service is called a General Sales Tax. It is simply called as GST. General sales tax is imposed on every product which is available in the market to be purchased by the customer. This tax is paid by the consumer. When he purchases the product or service, this tax is included in the price of the product and he pays for it at that the time of purchase. Sometimes government also impose the value added tax on the goods or services purchased and is also paid by the consumer at the time of purchase.

Excise tax

Explanation:

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