Which of the following statements about exicise duty on cottonand man-made (synthetic) fibres is / are correct ?
I) Man-made (synthetic) fibres attract a higher excise duty than cotton fibres
II) Man-made (synthetic) fibres attract lower excise duty than cotton fibres
III) No excise duty is levied on cotton fibres
- I only
- II only
- I and III only
- III only
- None of these