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What Is The Difference Between Customs Duty Tax And Excise Duty Tax? |
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Answer» If you take a look at both of these taxes at FIRST, both are taxes LEVIED by the government of India but the most significant difference between the two is that CUSTOMS duty is a tax levied upon GOODS imported into the country from foreign countries while excise duty is levied by the government on the goods manufactured in the country. It is important to note that many provisions are common to both customs and excise duty. Also, both taxes have similar procedures of administration, tribunal. If you take a look at both of these taxes at first, both are taxes levied by the government of India but the most significant difference between the two is that customs duty is a tax levied upon goods imported into the country from foreign countries while excise duty is levied by the government on the goods manufactured in the country. It is important to note that many provisions are common to both customs and excise duty. Also, both taxes have similar procedures of administration, tribunal. |
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