ramesh (Sr.Executive Accounts) (92 Points)
19 December 2009Govt. collects amount by way of imposing tax and levying duty such as excise duty , service tax , custom duty , income tax etc.etc.
I would like to know what is the difference between duty and taxes in business point of view. Dictionary meaning of the same may be different.
Thanks
Ramesh
Megha Gupta
(Articleship)
(33 Points)
Replied 19 December 2009
hiii
There is no logical difference between duty & Taxes.
Actually all the Acts adopted in India are sourced from some Foreign Acts(of Different countries) and the same words are used in India
So Chill...
RAMESH KUMAR VERMA
( CS PURSUING )
(43853 Points)
Replied 21 December 2009
HELLO,
TAXES ARE THE LIABILITIES OF EVERY INDIAN LIKE, HOUSE TAX, INCOME TAX, SERVICE TAX, SALES TAX AND AND DUTY REFERS "WHERE ANY MANUFACTURER EXPORTER , IMPORTER , IMPORT THE GOODS AND PAID IT BY THROUGH AS CUSTOMS DUTY " TO THE CENTRAL GOVERNMENT OF CUSTOMS DEPARTMENT.
AND WHEN ANY EXPORTER / IMPORTER GET THE ADVANCE LICENCE AND EPCG LICENCE , AS PER CUSTOM LAW, AND F.T.P. 2009- 2014 WHEN ANY SHORTFALL , OCCURS THE "DUTY" CAN BE DEPOSITED NOT AS PER "TAX" .
THANKS ,
RAMESH VERMA
9911042560
RAMESH KUMAR VERMA
( CS PURSUING )
(43853 Points)
Replied 10 September 2011
THE ABOVE SAID PHONE NO. HAS CHANGED.
RAMESH KUMAR VERMA
( CS PURSUING )
(43853 Points)
Replied 10 September 2011
| Originally posted by : RAMESH KUMAR VERMA | ||
 |
HELLO, TAXES ARE THE LIABILITIES OF EVERY INDIAN LIKE, HOUSE TAX, INCOME TAX, SERVICE TAX, SALES TAX AND AND DUTY REFERS "WHERE ANY MANUFACTURER EXPORTER , IMPORTER , IMPORT THE GOODS AND PAID IT BY THROUGH AS CUSTOMS DUTY " TO THE CENTRAL GOVERNMENT OF CUSTOMS DEPARTMENT. AND WHEN ANY EXPORTER / IMPORTER GET THE ADVANCE LICENCE AND EPCG LICENCE , AS PER CUSTOM LAW, AND F.T.P. 2009- 2014 WHEN ANY SHORTFALL , OCCURS THE "DUTY" CAN BE DEPOSITED NOT AS PER "TAX" . THANKS , RAMESH VERMA |
 |
PHONE NO. HAS BEEN CHANGED .
Samyak Sanghvi
(Article Assistant)
(136 Points)
Replied 09 May 2014
Definately there is difference between duty and tax, otherwise why we dont call excise tax and service duty.
The main thing which differenciate this two is:-
Duty - 1st paid then after collected
Tax - 1st collected then paid to Government.
CAclubindia
