The liability of Excise duty is attracted the movement a commodity is:

Option3) Manufactured correct answer <<<<<<<<<<

Excise Duty must be paid during removal of goods from the manufacturing premises, hence the answer is2) Dispatch.

>>>>>>>>>>>> I do agree with EXPERTS>>>>>>> 

1) The right answer is goods SOLD

IN MY SENSE ANSWER IS B - DISPATCHED ---IT IS APPLICABLE TO DISPATCHED GOODS OR MANUFACTURED GOODS . MANUFACTURED IS FIRST PHASE AND DISPATCHED CAN BE SAID AS SECOND PHASE. 

I would say the accurate answer is

3) MANUFACTURED