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No. It is indirect tax.
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List of direct and indirect taxes?
In India... the list of direct and indirect taxes.. is as following.. Direct Tax: Income tax corporation tax property tax inheritence (estate) tax & gift tax Indirect tax: customs duty, central excise duty, service tax, sales tax, value added tax (VAT), securities transaction tax
Is the tax on your house indirect tax or direct tax?
excise taxA+
What is a tax on good coming from another country?
An import, duty or excise tax
A tax on perfume is what kind of tax?
A tax on perfume is an excise tax. An excise tax is an in-country, or inland, tax on a specific good produced for sale. If the tax is on the perfume as it is imported, it is a customs duty or border tax.
What is central excise duty?
The central excise duty refers to an indirect tax which is levied on goods manufactured in India. These are the goods which are meant for consumption at home.
Which of the tax gives the maximum revenue in Union Budget?
excise duty
A tax on perfume is an example of what?
A tax on perfumeA tax on perfume is an example of an excise tax. Excise taxes are indirect taxes on certain types of goods.
What is terminal excise duty and how it is different from normal excise duty?
Terminal excise duty is a tax levied on goods that are produced and consumed within a specific region or terminal, often applied to goods sold in a particular area, such as a free trade zone. Unlike normal excise duty, which is generally applied to the manufacture or production of goods regardless of where they are sold, terminal excise duty focuses on the point of sale or consumption. This distinction means that terminal excise duty can vary based on location, whereas normal excise duty typically applies uniformly across a country. Additionally, terminal excise duty may be aimed at promoting local consumption or trade within designated areas.
What the difference between income tax and excise duty?
Income tax is a tax levied on an individual's or entity's earnings, including wages, salaries, and profits, calculated based on their total income. In contrast, excise duty is a type of indirect tax imposed on specific goods and services, such as alcohol, tobacco, and fuel, typically included in the price paid by consumers. While income tax is progressive and based on income levels, excise duty is usually a fixed amount per unit or percentage of the price, regardless of the buyer's income.
What is the Example of excise duty tax?
Excise duty is levied on the quantity, unlike sales tax, which is levied on value. Moreover, its only the manufacturer/producer who pays the excise duty. For eg, lets say Jack manufactures N number of toys for sale and 'c' is the cost of production/toy.Then Jack is liable to pay N*x amount as excise duty, where x=excise duty/toy. Total amount payable by jack= N*c + N*x In contrast to this, lets say you buy all of these N toys and the price of each toy is 'v'.Then you are liable to an additional s% of (N*v) as sales tax, where s=sales tax Total amount payable by you= N*v + s% of (N*v)
Is import duty a direct tax or indirect tax?
indirect tax
What is a tax on production or sale of good called?
excise tax
