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Query

Shivaraj R Suvarna (CA Article student) (58 Points)

29 January 2014

what do you mean by excise duty? thnx

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3 Replies

shubham (student) (238 Points)
Replied 29 January 2014

excise duty refers to a duty or tax on production.

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Chinnu Raj (CA Final Student B.Com) (1067 Points)
Replied 02 February 2014

It is an inland tax on the sale, or production for sale, of specific goodsor a tax on a good produced for sale, or sold, within a country or licenses for specific activities. Excises are distinguished from customs duties, which are taxes on importation. Excises are inland taxes, whereas customs duties are border taxes.