Tax and duty
This query is : Resolved
10 December 2009
Let me know basic difference between Tax & Duty without any example which may come true in all respect.
Highly requested to give succinct answer.
Thanks in advance
Highly requested to give succinct answer.
Thanks in advance
13 December 2009
A duty is a form of tax that is only applied to to specific commodities, transaction, or estates, but not on individuals.
14 December 2009
DIFFICULT TO UNDERSTAND
15 January 2010
Duty basically related to manufacture and tax relates to sales or income.
16 January 2010
Basudev Sir,
Your answer related to disctinction between duty and Tax does not seem to be true in all cases.
For example, in case of custom duty it is not paid for manufacturing anything even then it is called duty.
Thanks
Your answer related to disctinction between duty and Tax does not seem to be true in all cases.
For example, in case of custom duty it is not paid for manufacturing anything even then it is called duty.
Thanks
16 January 2010
Custom duty is also related to manufacture the activity may not be done in the imported country bu at the export of origin there it has been happen.
Now for without example duty is such a element which is chargeable before tax
So we can simply say duty and tax is pre and post component for a whole transaction.
Now for without example duty is such a element which is chargeable before tax
So we can simply say duty and tax is pre and post component for a whole transaction.
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