67th B.P.S.C. (Pre) 2021
Modvat is related to :
a98
b96
c104
d109✓ Correct
eNone of the above / more than one of the above
Explanation
In the history of excise duty, 1986 was a landmark year, when, while implementing the Long-Term Fiscal Policy (1985), V. P. Singh (then Finance Minister) introduced MODVAT from 1 March 1986. MODVAT (Modified Value Added Tax) was also a form of Central Excise Duty.
indian-history