What is the difference between tax and duty?
PRAKASH C B (STUDENT) (89 Points)
28 June 2011What is the difference between tax and duty?
CS,CA F,Numrologi TusharSampat
(CS CA F Numerologist Astrologer Graphologist Face reader Vastu Expert)
(85930 Points)
Replied 28 June 2011
Tax is charge on income and duty is charged on goods.
U get refund of tax if conditions fullfilled and you get drawback on duty if conditions fulfilled.
Procedures are also diffrent for payment to refund and all other issues for tax and duty.
There is duty of EXCISE AND CUSTOMS n ther are tax lik INCOME TAX, WEALTH TAX, SERVICES TAX.
Live class on PF & ESI Enrollment & Returns Filing(with recording)
CAclubindia
